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fih mobile ltd (2038) Details

FIH Mobile Limited, an investment holding company, provides integrated manufacturing services for the handset industry worldwide. It operates through three segments: Asia, Europe, and America. The company designs, manufactures, assembles, imports, exports, and distributes handsets, as well as offers repair services. It is also involved in the research and development, and project management activities. The company was formerly known as Foxconn International Holdings Limited and changed its name to FIH Mobile Limited in May 2013. The company was incorporated in 2000 and is headquartered in Langfang, the People’s Republic of China. FIH Mobile Limited is a subsidiary of Foxconn (Far East) Limited.

81,013 Employees
Last Reported Date: 04/14/16
Founded in 2000

fih mobile ltd (2038) Top Compensated Officers

Chief Executive Officer, Executive Director a...
Total Annual Compensation: $5.1M
Chairman and Director of Investments & Invest...
Total Annual Compensation: $805.0K
Director of Mechanical Production, Executive ...
Total Annual Compensation: $431.0K
Compensation as of Fiscal Year 2015.

fih mobile ltd (2038) Key Developments

FIH Mobile Limited and TNS Limited Enter into a Collaboration Agreement with Nokia Technologies Ltd. and HMD global Oy

FIH Mobile Limited has announced that on 18 May, 2016, the company and TNS Limited has entered into a collaboration agreement with Nokia Technologies Ltd. and HMD global Oy to establish a collaboration framework among the parties with a view to building a globally successful business in the field of Nokia-branded mobile phones and tablets based on the Nokia brand and certain of Nokia Technologies' intellectual property. Pursuant to the collaboration Agreement, the parties have agreed (among other things) as follows, in each case upon and subject to the terms and conditions set out therein: HMD has agreed to exclusively (subject to certain exceptions) undertake business in Nokia-branded mobile phones and tablets (the Nokia-Branded Products Business), including designing, manufacturing and sales of such Nokia-branded mobile phones and tablets through subcontractors and agents, and using intellectual property (together with the related sales and marketing materials) which is licensed from Nokia Technologies, in a manner that meets certain commercial objectives and financial targets. TNS has agreed to work exclusively (subject to certain exceptions) with HMD for the distribution of the Nokia-Branded Offering. The collaboration agreement contemplates that HMD may acquire TNS through a share purchase or the purchase of the business of TNS from the company (the Proposed TNS Acquisition). The company has agreed as an objective, to support HMD and TNS and facilitate the investment of sufficient resources to support HMD's and TNS' endeavours to ramp-up the Nokia-Branded Products Business; and to enter into agreement(s) with HMD for the manufacturing, research, development and technology cooperation, and distribution in respect of the Nokia-Branded Offering the Proposed Agreements. The collaboration agreement shall be effective until the earlier of 31 March, 2027; and (b) the tenth anniversary of the date of the launch of the first product of the Nokia-Branded Offering, unless earlier terminated in accordance with its terms. TNS will be jointly and severally liable with HMD for any and all obligations and commitments of HMD under the collaboration agreement, the License Agreements and the Frame Licensing Agreement (but excluding assuming HMD's role as owner of the Nokia-Branded Products Business), and the company will be jointly and severally liable with TNS for any and all obligations and commitments of TNS under the Collaboration Agreement and the Frame Licensing Agreement. Except in the case of fraud, intentional acts, wilful misconduct, and gross negligence, the maximum aggregate commitment and liability of the company and TNS (jointly) (and including any liability arising from any obligation or commitment of TNS or HMD for which the Company and/or TNS may be jointly and severally liable), for claims arising under the Collaboration Agreement, the Frame Licensing Agreement and the License Agreements shall be limited to one hundred and twenty million (120,000,000) U.S. dollars (the "Cap") for the period starting on the effective date of the Trademark License Agreement (as defined hereinafter) and continuing until the earlier of: (i) 31 March 2019; or (ii) the second (2nd) anniversary of the date of the launch of the first product of the Nokia-Branded Offering (the Initial Period), the Cap being renewable every twenty-four (24) months thereafter until the end of the Term (each such period, a "Subsequent Period"). Three months prior to the end of the Initial Period or a Subsequent Period, the parties shall negotiate in good faith the amount of the Cap. In the event the amount of the Cap is not agreed no later than fourteen days prior to the end of the Initial Period or the relevant Subsequent Period, Nokia Technologies has the right to terminate the Collaboration Agreement, the Frame Licensing Agreement and/or the License Agreements. In the event Nokia Technologies does not exercise its right to terminate within the first 60 days of the next Subsequent Period, the existing Cap shall continue to be applicable. The company will re-comply with any applicable Listing Rules when a new Cap is agreed.

FIH Mobile Limited Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016

FIH Mobile Limited reported unaudited consolidated earnings results for the first quarter ended March 31, 2016. Revenue and other operating revenue was $1,082.7 million against $2,013 million last year. Loss for the period from continuing operations was $3.8 million against profit from continuing operations of $65.3 million last year. Total comprehensive income for the period was $25.9 million against $31.1 million last year. Net cash from operating activities was $117.4 million against $306.5 million last year.

FIH Mobile Limited Provides Earnings Guidance for the Six Months Ending June 30, 2016

FIH Mobile Limited provided earnings guidance for the six months ending June 30, 2016. For the period, based on a preliminary review of the unaudited management accounts of the Group and other information currently available, it expects to record a consolidated net profit, which is expected to range from $10,000,000 to $20,000,000, when compared to the Group's consolidated net profit of $128,564,000 for the six months ended June 30, 2015, representing a substantial decrease by approximately $108,564,000 (84.4%) to $118,564,000 (92.2%). The Board understands that the expected consolidated net profit of the Group for the six months ending June 30, 2016 is primarily attributable to lower demands from some of the Group's major customers as a result of customer transition thus resulting in lower sales of the Group's products (which are expected to less than $2,465,000,000 when compared with the sales of the Group's products amounting to $3,828,856,000 for the six months ended June 30, 2015), and the decline in the Group's gross profit as a result of decrease of sales; and lower other income like service fees and molding sales from these customers.

 

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