Apple Product Releases in 2012 Drive Foxconn to a Record $3.2B Profit

Apple Product Releases in 2012 Drive Foxconn to a Record $3.2B Profit

The launch of Apple’s iPhone 5, and three different iPad models in 2012 saw Apple partner Foxconn earning a record $3.2 billion in net income.



Hon Hai Precision Industry Co., better known by its trade name Foxconn, announced on Monday that its profit also climbed to a record $3.9 trillion in New Taiwan dollars. Foxconn’s gains are attributed to Apple launching four products in particular: the iPhone 5, third- and fourth-generation iPads, and the iPad mini.

While Apple does use other assembly partners such as Pegatron, Foxconn assembles the majority of Apple’s products, including the iPhone and iPad.

The company announced earlier this month that it will be adding 5,000 new jobs. The hiring surge, the largest one for the company in recent years, will see workers added in automated production, e-commerce, and robotics.

Apple has come under fire in recent years from critics who believe its partners such as Foxconn are subjecting Chinese workers to low wages, and unsafe conditions in their plants. However, Apple has responded to the criticism by putting pressure on Foxconn to improve working conditions and wages.

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