Falling iPhone sales hit Foxconn’s bottom line

Stefan Mileschin · 1st April 2016, 11:57

Foxconn saw its net profit fall as interest in it is key partner, Apple, falls.

Net income in October-December fell 6.67 percent to $1.6 billion while revenue slipped 4.69 percent.

Foxconn’s stonking profits largely depend on the fruity cargo cult Apple, a situation which is likely to get worse after the outfit wrote a $3.5 billion takeover of ailing Japanese electronics firm Sharp which makes screens for Jobs’ mob.

The company said that while it enjoyed a 12.51 percent rise in full-year profit the drop in sales in the last three months reflected a slowdown at Apple, which saw the slowest sales growth ever of iPhones in the same period and warned of a decline in the current quarter.

http://fudzilla.com/news/40345-falli...-s-bottom-line

1st April 2016, 11:57	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,578	Falling iPhone sales hit Foxconn’s bottom line Foxconn saw its net profit fall as interest in it is key partner, Apple, falls. Net income in October-December fell 6.67 percent to $1.6 billion while revenue slipped 4.69 percent. Foxconn’s stonking profits largely depend on the fruity cargo cult Apple, a situation which is likely to get worse after the outfit wrote a $3.5 billion takeover of ailing Japanese electronics firm Sharp which makes screens for Jobs’ mob. The company said that while it enjoyed a 12.51 percent rise in full-year profit the drop in sales in the last three months reflected a slowdown at Apple, which saw the slowest sales growth ever of iPhones in the same period and warned of a decline in the current quarter. http://fudzilla.com/news/40345-falli...-s-bottom-line

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