Foxconn International Holdings, a company under Foxconn Technology Group, reported on Thursday net profit of US$72.8 million for the 2011 financial year ended Dec. 31. This was up 133 percent from the $218 million loss it reported in the previous year.

The company's revenue for 2011 was $6.3 billion, down from $6.6 billion in the previous year.

Foxconn International reports earnings only for the half-year and the full-year.

The company noted that competition with rival suppliers increased. It said it had optimized its manufacturing capacity in various regions by cutting down on excess production, while also reducing investments in certain areas of research and development.

Foxconn International said it can now "operate from a leaner base" in 2012, but forecast that the market could remain volatile, according to statements made in its financial earnings .