Google Inc (NASDAQ:GOOG) Plans to Hire Hon Hai to Assemble Google Glass

googleApple Inc. (NASDAQ:AAPL)’s supplier Hon Hai Precision Industry Co, is a Foxconn’s subsidiary and it has carried out supply contracts with iPhone maker in the Chinese mainland.  But there it was reported last Wednesday from the sources of the Financial Times that Google Inc (NASDAQ:GOOG)  also plans to hire Hon Hai to assemble its Google Glass headsets at a plant in Santa Clara, California.

Financial Times reported that only a few thousand of the headsets will be produced at the California factory in coming weeks, in comparison to the millions of iPhones, iPads and other devices Hon Hai and Foxconn turn out in China.

Google Inc said on Wednesday, it would give 8,000 contest winners a chance to buy the gadgets for $1,500 each. Up till now, launch date has not disclosed, but the speculation suggests that Google Glass will go on sale sometime this year.

Other than Google Glass, Apple Inc is also developing another type of wearable computing, look like a watch like device that will surely get the attention of Chinese Internet companies, users and developers.

Google Inc (NASDAQ:GOOG) stock in last session held volume of 2.04 million shares as compare to its average volume of 2.24 million shares. The stock after opening at $804.54 hit high price of $814.83 and then closed at $813.04 by rising up 1.48%.

Looking at the revenue measures, the company generated sales of 50.18 billion in last twelve months with income of $10.79 billion. The Company showed a positive 21.50% in the net profit margin and its operating margin is calculated as 25.43%. Company’s annual sales growth for the past five years was 24.77%.

GOOG past twelve months price to sales ratio was 5.34 and price to cash ratio recorded as 5.57. As far as the returns are concern, GOOG return on equity recorded as 16.61% while its return on assets stayed at 12.97%.

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