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iPhone assembler Foxconn feels the sting of slowing smartphone sales

The comments from the Taiwanese company, the world's largest contract electronics maker, echo those from other Asian tech firms that have warned of a drop in sales of smartphones, TVs and gadgets

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Foxconn has been largely shielded from these demand problems so far as the popularity of iPhones has endured among a loyal and relatively affluent customer base.

Reuters Taipei
Apple iPhone assembler Foxconn gave a cautious outlook for the current quarter after posting results that exceeded expectations, citing slowing smartphone demand after a pandemic-fuelled boom.

The comments from the Taiwanese company, the world's largest contract electronics maker, echo those from other Asian tech firms that have warned of a drop in sales of smartphones, TVs and gadgets as surging inflation and deepening concerns of a recession crimp consumer spending.

Foxconn has been largely shielded from these demand problems so far as the popularity of iPhones has endured among a loyal and relatively affluent customer base, and it said on Wednesday that

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