TAIPEI : Apple Inc supplier Foxconn reported on Thursday a 56 per cent fall in first-quarter net profit, as global economic woes hurt demand for smart consumer electronics.
The Taiwanese company, which is the world's largest contract electronics maker, said net profit for the January-March quarter fell to T$12.8 billion from T$29.45 billion in the same period the previous year. It was much worse than an average forecast of T$29.18 billion profit from 13 analysts, according to Refinitiv.
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