HONG KONG (Dow Jones)--Hong Kong-listed contract mobile phone maker Foxconn International Holdings said Tuesday its 2007 net profit was largely unchanged from the year earlier, as competition in global handset market remained fierce.
The company, which makes mobile handsets for companies such as Motorola Inc. and Nokia Corp., posted a net profit of $721.4 million for 2007, compared with $718.0 million in 2006.
Its earnings were lower than the average $759.7 million forecast of five analysts polled by Dow Jones Newswires.
The company said its 2007 revenue rose 3% to $10.73 billion from $10.38 billion in 2006.
As in the previous year, Foxconn omitted a 2007 final dividend.
-By Lorraine Luk, Dow Jones Newswires; 852-2802-7002; lorraine.luk@dowjones.com
(END) Dow Jones Newswires
Posted to the site on 22nd April 2008
Posted to: www.cellular-news.com/story/30697.php