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By Faith Hung
September 6, 2010 10:15 AM GMT
Hon Hai Group, maker of Apple's iPhones, will halve its long-term sales growth target to 15 percent annually, its chairman was reported as saying, with demand for iPhones and iPads unlikely to offset slowing PC sales.
In interviews with Bloomberg and the Wall Street Journal in Shenzhen over the weekend, chairman Terry Gou said the company was likely to meet its original 30 percent growth target this year thanks to a global recovery, but said beyond that the pace would drop.
"How many companies have grown this big and still grow 30 percent?" Guo told Bloomberg in the Chinese city of Shenzhen on Saturday. "Fifteen percent is also big."
Hon Hai, the world's biggest electronic parts maker, and its Hong Kong based Foxconn unit have struggled this year with the fallout from a series of suicides at a manufacturing site in southern China that focused international attention on labour practices in the region.
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The issues prompted the company to raise wages and were a trigger for a series of labour disputes over working conditions in a region dubbed the world's workshop. Hon Hai employs over 900,000 people in China.
Guo told the Wall Street Journal that he believed Hon Hai had taken effective measures to address the suicides, and did not think the incidents had hurt relations with customers, which also include Dell, Nokia and Hewlett-Packard.
He said that the firm was considering building a fully automated component factory in the United States as one way of reducing its reliance on labour.
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