Apple supplier Foxconn records third consecutive fall in yearly profitA slowing smartphone industry seems to be to blame...
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Apple supplier Foxconn has reported its third consecutive fall in profits in three years.
A waning smartphone industry meant profits fell by 10% to around $3.8 billion.
Looking forward, the current economic climate and global pandemic could have a "major impact" on the second half of the year.
Apple's main iPhone supplier Foxconn has recorded its third consecutive fall in yearly profit in as many years as the global smartphone market continues to wane.
According to Nikkei Asian Review:
MARCH 30, 2020 21:31 JST
TAIPEI -- Key iPhone supplier Foxconn on Monday reported a third consecutive year of lower profits as the smartphone industry continues to slow.
Net income at Foxconn, formally traded as Hon Hai Precision Industry, fell 10% to 115.3 billion New Taiwan dollars ($3.81 billion) in 2019, while operating income dipped nearly 16% on the year. The company's gross margin was 5.9%, lower than the...
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Apple supplier Foxconn records third consecutive fall in yearly profit
