Foxconn, the world's largest contract electronics manufacturer , posted a better-than-expected quarterly profit and forecast its smartphones business would see sustained revenue weakness but at a slightly slower pace this quarter.
), posted a better-than-expected quarterly profit and forecast its smartphones business would see sustained revenue weakness but at a slightly slower pace this quarter.
Foxconn reported a net profit of T$22.9 billion for the second quarter ended June. That was up 34% from a year earlier and better than a consensus estimate of T$17.95 billion drawn from 13 analysts polled by Refinitiv. In the third quarter, Foxconn expects overall revenue to post a yearly double-digit decline and revenue from the consumer electronics division to drop about 10% from a year earlier.For Foxconn, though, the Apple connection would be a growth driver.
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