Wed, Jul 11, 2012 - Page 14 News List

Hon Hai places 43rd on ‘Fortune’ world’s top 500

Staff writer, with CNA

Taiwan’s Hon Hai Precision Industry Co Ltd (鴻海精密), which makes iPhones and iPads for Apple Inc, claimed the 43rd spot on the newly released Global Fortune 500 list, while archrival Samsung Electronics Co of South Korea was in 20th place.

Hon Hai’s revenues last year totaled US$117,514 million, up 23.5 percent from a year earlier, while its net profit reached US$2,777 million, according to Fortune magazine, which releases an annual ranking of the top 500 companies in the world.

Samsung’s revenues last year totaled US$148,944 million, an 11.3 percent annual increase, but its net profit was down 11.8 percent at US$12,059 million, according to the list.

Hon Hai CEO Terry Gou (郭台銘) views Samsung Electronics as a top rival and has said he would use Hon Hai’s joint-venture deal with Sharp Corp of Japan to challenge Samsung in the display market in three to five years.

Besides Hon Hai, five other Taiwanese companies made it to the global 500 list. They were Quanta Computer (廣達電腦) at 279th; CPC Corp, Taiwan (中油) at 337th; Formosa Petrochemical (台塑石化) at 408th; Compal Electronics (仁寶電腦) at 468th; and Wistron Corp (緯創) at 493rd.

Meanwhile, the top three Asian companies on the list were all Chinese companies: Sinopec Group (中國石化集團), China National Petroleum (中國石油天然氣) and State Grid (國家電網).

At the top of the Global Fortune 500 list was the Netherlands-based oil and gas giant Royal Dutch Shell, with a net profit of US$30,918 million last year, up 53.6 percent from a year earlier. Former world No. 1 Wal-Mart Stores was listed at No. 3.

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