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Apple supplier Foxconn's profit down 24% in fourth quarter of 2019

Foxconn reported its biggest monthly drop in revenue in about seven years in February as the outbreak continued to play havoc with its business

Coronavirus | Apple  | Foxconn

Reuters  |  TAIPEI 

Taiwanese electronics manufacturer Foxconn reported a 23.7% fall in profit in the last three months of 2019 on Monday as it braces for the impact from the coronavirus pandemic that has hit demand from key customers such as Apple. Foxconn, which assembles iPhones at factories in China, reported net profit of T$47.76 billion ($1.6 billion), according to Reuters calculations, slightly above an average forecast of T$46.94 billion from 14 analysts compiled by Refinitiv. The world's largest contract electronics manufacturer did not given any explanation for the decline from T$62.61 ...

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First Published: Mon, March 30 2020. 13:47 IST