Foxconn International surges 35% as Citi report lifts iPhone hopes


  • Business Premium
  • Monday, 05 Nov 2012

HONG KONG: Shares of Foxconn International Holdings Ltd (FIH), the world's biggest contract maker of cellphones, surged as much as 35% after Citigroup upgraded the stock to a 'buy' and said it expected the firm to start assembling iPhones this year.

FIH will see a sharp turnaround next year as Internet and software companies enter the smartphone race and the firm starts assembling iPhones for Apple, Citigroup said.

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