* FY net loss $316.4 million vs f'cast $317.9 mln loss
* Had reported net profit of $72.8 million in 2011
* Plans to change its name to FIH Mobile Ltd
By Lee Chyen Yee
HONG KONG, March 21 Foxconn International
Holdings Ltd (FIH), the world's biggest contract maker
of cellphones, fell into the red in 2012 with a net loss of
$316.4 million due to weak orders from some of its major
The loss, the company's biggest since its listing in 2005,
was slightly smaller than an average estimate of $317.9 million
from a Thomson Reuters I/B/E/S poll of 10 banks and brokerages.
FIH had reported a net profit of $72.8 million in 2011, it
said in a statement on the Hong Kong stock exchange on Thursday.
"FIH's fundamentals remain lacklustre due to a
lower-than-expected sales contribution from new customers
(Amazon/Apple) and increasing low-margin orders from China
smartphone customers (Xiaomi/Huawei)," Dale Gai, an analyst at
Barclays Research, said in a report before the earnings release.
FIH also said it planned to change its name to FIH Mobile
Ltd to avoid confusion with its unlisted parent Foxconn
The name change is subject to approval by shareholders and
authorities in the Cayman Islands, where the company is
FIH, which traditionally assembles products for clients
including Nokia Oyj and Huawei Technologies Co Ltd
, has struggled in recent years as many of its
customers' order books have shrunk.
Analysts have said the company had begun taking some Apple
Inc orders from parent Foxconn Technology Group's
flagship unit Hon Hai Precision Industry Co Ltd,
though the contribution to its bottom line is so far limited.
Foxconn has not confirmed these reports.
Shares in FIH, which has a market value of $2.8 billion,
fell by a quarter in 2012 due to its poor financial performance.
It announced its 2012 results after Hong Kong markets closed on
Thursday, when its shares were down 0.3 percent, lagging the
main Hang Seng index's 0.1 percent fall.