News
SAN JOSE - Flextronics posted record GAAP net income of $98.7 million, up 361%, for its third quarter. The EMS firm also topped previous records for revenues, reporting sales of $4.3 billion, up 3% over last year.
The company recorded restructuring charges of $30.7 million during the quarter, primarily related to closures and consolidations. Excluding one-time items, net income rose 24% to $116.3 million.
The company reaffirmed previous revenue guidance of $3.8 billion to $4.2 billion for the March quarter, and $4.1 billion to $4.5 billion in the June quarter. The company told analysts that end-markets are solid.
VANCOUVER, Jan. 24 -- Nam Tai Electronics, facing a sharp uptick in orders, will recruit over 1000 more workers this quarter for its manufacturing sites in Shenzhen. The addition will bring the total number of employees to 6,600 by the end of March.
The company has also upgraded its chip on board technology to include gold wire
ball bonding for manufacturing CMOS image sensor modules at megapixel quality. CMOS image
sensor modules are used 3G camera phones
"There is a growing demand for CMOS image sensor modules with better image quality," said Joseph Li, chief executive, in a press release. "With our ongoing advancement of our manufacturing capabilities, we believe that Nam Tai is well positioned to respond to the demand from the fast growing electronic manufacturing industry, especially the optical device area, and to capture more business opportunities arising in this area."
LG Electronics will hold just under 50%, and Nortel will have 50% plus one share.
The venture, temporarily named LG-Nortel Networks, will focus on developing equipment for 3G wireless networks based on W-CDMA technology, according to press reports.
Nortel is the larger shareholder for the purposes of accounting, the companies said.
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