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General

Foxconn's Q2 profit plunges 31% amid decreasing iPhone sales

Friday 12 August 2016 | 09:40 CET | News
Foxconn, a main Apple supplier, reported a 31 percent decline in its second-quarter net profit. Foxconn saw its net profit for the three months ended 30 June decline to TWD 17.7 billion (approximately USD 566 million) from TWD 25.7 billion in the year-earlier period. The sales decline was mainly due to slowing iPhone sales in a maturing smartphone market, The WSJ reports. Consolidated revenue dropped 5.2 percent to TWD 922 billion from TWD 972.7 billion a year earlier. Foxconn's second-quarter financial results did not include the Sharp acquisition.

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Categories: General
Companies: Apple / Foxconn
Countries: World
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