Joining the party
It should come as no surprise after warnings from all the main semiconductor companies that one of the biggest component makers and contract manufacturers in the world is also looking at significantly reduced profits for 2008.
Foxconn International Holdings Limited, part of the Hon Hai group, published the following short statement yesterday:
This announcement is made by the Company pursuant to Rule 13.09(1) of the Listing Rules.
The Board wishes to inform the shareholders of the Company and potential investors that the consolidated net profit of the Group for the year ended 31 December 2008 is expected to show a significant decline as compared to that for the year ended 31 December 2007.
Shareholders of the Company and potential investors are advised to exercise caution in dealing in the shares of the Company.
Don't say you weren't warned. Its shares were down around seven percent yesterday.