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Foxconn realizes record $3.2 billion profit for 2012
The success of the iPhone 5 and three new iPad models in 2012 not only raised Apple's profits to record levels, but has also helped manufacturer Foxconn to reach a all-time high $3.2 billion profit ($3.9 trillion New Taiwan dollars) during the year. Foxconn, the trade name for Hon Hai Precision Industry Co., assembles many of Apple's products in Chinese manufacturing plants. While Apple also works with some other manufacturing firms such as Pegatron and is moving some limited manufacturing capability back to the United States, the majority of Apple products are built in Foxconn plants. Foxconn also recently announced that the company is adding 5,000 new jobs, primarily R&D personnel who will be working on automated production, robotics, and e-commerce.
