Apple, other products to boost Foxconn 2010 revenues by 60 percent

Hon Hai, the controversial maker of iPhones and other electronics, continues to swell and will see 2010’s revenue growth at 60 percent, according to Chairman Gou. 

Terry Gou, 61, has pursued an aggressive growth strategy over the years and expects revenue for all of 2010 to hit over $102 billion. Perhaps all those chanting monks are good luck as The Chairman trounced his comparably meagre 15 percent growth prediction earlier this year. In 2011 he expects Hon Hai to reach at least that again. 

While he didn’t indicate what exactly will be behind next year’s growth, the Taipei Times quotes Merrill Lynch analyst Kengean Tan: “We believe notebook ODM, LCD TV outsourcing and new product drivers from Apple, such as the iPad and iPhone, will remain long-term growth drivers over the next two years to three.”

In other words the business of HP, Cisco, Dell, Apple and others to operate out of a sweatshop and collude with a man who has gone on record as saying “a harsh environment is a good thing” and “hungry people have especially clear minds” continues to make Gou, and Hon Hai wealthy. 

As usual Gou is conservative about figures, telling reporters “It is difficult to grow as fast as before” but he is “optimistic, but has to talk conservatively.” He gave no clue about net profits but probably hopes to catch a depressed worker or two.