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Foxconn International shares slide after worst-ever first-half loss
August 28, 2012 / 1:30 AM / 5 years ago

Foxconn International shares slide after worst-ever first-half loss

HONG KONG (Reuters) - Shares of Foxconn International Holdings Ltd (FIH) (2038.HK), the world’s biggest contract maker of cellphones, fell 3.5 percent on Tuesday after it posted its worst-ever first-half net loss due to dismal orders.

Workers walk out of the entrance to a Foxconn factory in Chengdu, Sichuan province July 4, 2012. REUTERS/Stringer

The stock was set to open down 3.5 percent at HK$2.78, underperforming the Hang Seng Index's .HSI 0.4 percent loss.

FIH on Monday blamed its poor earnings on sluggish orders from key clients such as Nokia Oyj NOK1V.HE as a global economic slowdown takes a toll.

Reporting By Lee Chyen Yee; Editing by Anne Marie Roantree

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