富士康预测未来10年平均增幅减半Foxconn growth to fall by half
Foxconn Technology Group expects its average annual growth to drop by half over the coming 10 years compared with the past decade in a sign that the maturing technology industry cannot sustain its aggressive pace of expansion.
富士康科技集团(Foxconn Technology Group)预期，今后10年该公司的年平均增幅将会减半，这个迹象表明，渐趋成熟的科技行业将无法保持其激进的扩张步伐。
A company spokesman said that the target of at least 30 per cent annual revenue growth, which Terry Gou, the founder and chairman, has repeatedly committed to over the past decade, was no longer realistic and would eventually be replaced by targets averaging at about half that pace.
“This points to a changed pace in the expansion of manufacturing capacity and manpower in the future,” said Edmund Ding, spokesman of Hon Hai, the group’s Taiwan-listed flagship company.
“这意味着未来制造产能和人力的扩张速度将有所变化，”富士康母公司、在台湾上市的鸿 海精密(Hon Hai)的发言人丁祈安表示。
Foxconn said that revenue growth would still exceed 30 per cent this year as revenues had already jumped by almost 50 per cent in the first half. Hon Hai had revenues of T$1959bn (US$61.5bn) in 2009.
With a workforce of close to 1m, largely in China, Foxconn makes components for and assembles PCs, handsets, game consoles, iPods and other electronic gadgets. It manufactures devices for customers such as Apple, Nokia and Sony.
The shift in its outlook could unnerve investors as it confirms the long held concerns of analysts that the group would be unable to sustain its fast pace of expansion without giving clear indications of where future growth would come from.
Over the past 10 years, the group has kept growth and profit margins up by expanding into new product segments and deepening the vertical integration of its manufacturing operations. Foxconn has acquired an increasing number of companies with manufacturing clout or technology in segments more profitable than its traditional PC assembly business.
One of the largest deals was the 2008 acquisition of Chi Mei Optoelectronics, then Taiwan’s second-largest manufacturer of LCD panels. Other deals helped it diversify from PCs into products such as digital cameras.
规模最大的交易之一是2008年收购当时台湾第二大液晶面板制造商奇美电子(Chi Mei Optoelectronics)。还有其它交易帮助富士康分散了业务，从个人电脑转向数码相机等产品。
While this expansion was aimed at creating ever-bigger economies of scale to keep manufacturing costs down and gain dominant market share across all products, the group has struggle to manage such a vast manufacturing empire.
Foxconn International Holdings, its China-based handset manufacturing unit, has been the worst-performing component stock of Hong Kong’s Hang Seng index this year.
总部位于中国大陆的手机制造部门——富士康国际控股(Foxconn International Holdings)是香港恒生指数(Hang Seng index)今年表现最差的成份股。
Last week, the company reported a US$142.64m net loss for the first half, compared with a US$18.7m net loss for the same period last year.