Hon Hai Precision Industry Co. said its net profit rose 16 percent in 2012 from the previous year, as the Taiwan-based assembler of Apple Inc. products saw its revenue increase as the U.S. company’s sales grew.
Apple Inc. supplier Hon Hai Precision Co. has declared plans to install robotic arms at its factories dotted across China to boost efficiency and address labor unrest. But its bid to automate swaths of the production process in the coming decade is facing major obstacles, including high costs and rapid changes in technology.
Asia’s major memory-chip makers continued to post weak results in the third quarter as personal-computer demand waned, with consumers switching to mobile devices such as tablet computers and smartphones.
Hon Hai Precision Industry Co. acknowledged that it hired underage workers at one of its China plants, in the latest hit to the labor practices of the major contractor for Apple Inc. and other electronics giants.