Hon Hai Says Orders Not As Bad As Expected

Hon Hai Precision Industry, the world’s largest contract electronics manufacturer, said in Taipei today that orders at least for the moment are not as bad as expected, according to Bloomberg . Hon Hai Chairman Terry Gou said that for the short-term - 1-2 months - “we can see it’s not as bad as we were looking for.” The company, which operates under the name Foxconn, makes hardware for Sony (SNE), Apple (AAPL), Nokia (NOK) and a host of other companies. Hon Hai, which has about 600,000 employees in China, said it recently asked some workers who had been laid to come back to work. In trading in Taipei, Hon Hai shares are up 3.80 Taiwanese dollars, or 5.6%, to 71.90. (link)