Foxconn posts record quarterly profit

Taiwanese contract electronics manufacturer Hon Hai Precision Industry has posted record quarterly profits helped by growing demand for iPhones and iPads.

The Apple assembler, also known as Foxconn Technology, posted a net profit of 37 billion new Taiwan dollars in the three months to December 2012.

It also reported a 16 percent jump in full year profit for 2102 to NT$94.8 billion.

Revenue was boosted by Apple's continued growth. The US company shipped 135.9 million iPhones last year, according to research firm IDC.

Foxconn is the world's largest contract electronics maker and Apple accounts for about 40 percent of the Taiwanese firm's revenue.

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