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Foxconn Surprises Analysts with Bigger-than-Expected Profit Driven by Apple's new iPhone

10. 7A YAPYAP

 

Apple's main iPhone assembler Hon Hai Precision Industry Co. reported new iPhone orders powered a bigger-than-expected rise in Foxconn Technology Group's third-quarter net profit, as the world's largest electronics contract manufacturer weathered a smartphone slowdown. The Wall Street Journal report noted that Foxconn's third-quarter net profit rose 11%. The report further noted that while Apple hasn't been hit by recent sluggishness in the smartphone sector yet, some analysts are cautioning that iPhone sales may slow down in coming quarters.

 

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