Shares fall at iPhone maker Foxconn as losses mount

Shares in Foxconn, the Taiwanese manufacturer that builds the iPhone for Apple, have fallen eight per cent a day after the firm reported losses of $143m for the first six months of the year.

Foxconn, which also makes products for Nokia, Sony Ericsson and Motorola, blamed the "volatile" mobile handset market for the losses and said the costs for new properties more than doubled to £169m as the company seeks to move its factories into inland China in order to reduce labour costs.

The Taiwanese firm was forced to increase pay for its Chinese workforce earlier this year after a spate of suicides brought it unwelcome attention. This month, Foxconn also said it would hire more workers so that it could maintain production while reducing overtime.

Read a full report at BBC News. ·