iPhone supplier Foxconn records bumper Q1 profitsThe company posted profits of around $1 billion.
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Apple supplier Foxconn has posted profits of around $1 billion.
It smashed forecasts and estimates as it continues to capitalize on the demand for devices driven by working from home.
Apple's largest supplier Foxconn, maker of devices like the iPhone 12, has smashed expectations and recorded a profit of around $1 billion for Q1 of 2021.
From Reuters:
Taiwan's Foxconn, which assembles iPhones for Apple, on Friday reported better-than-expected first-quarter profit amid the work-from-home trend spurred by the COVID-19 pandemic that has stoked demand for electronic devices.
Officially known as Hon Hai Precision Industry Co, the world's biggest contract electronics maker said January-March net profit surged to T$28.2 billion ($1 billion) from T$2.1 billion in a pandemic-hit first quarter a year earlier, beating an average forecast of T$24.41 billion compiled from 11 analysts' estimates by Refinitiv.
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iPhone supplier Foxconn records bumper Q1 profits
