June 8 (Bloomberg) -- Hon Hai Precision Industry Co. founder and chairman Terry Gou told shareholders the reasons for its lower profit margins last year are “complicated” after revenue rose while gross margins declined.
“I admit, I didn’t do well,” Gou said at the Taipei-based company’s annual meeting today. Hon Hai bought more equipment and started moving its workforce to inland China last year, and is learning from the experience, he said. The company will continue to spend on research and development in new areas such as electronics and optoelectronics, he said today.
To contact the reporter on this story: Tim Culpan in Taipei at firstname.lastname@example.org
To contact the editor responsible for this story: Adela Lin at email@example.com