Foxconn Misses Expectations in First Quarter Report
Tuesday, 14 May 2024, 11:51
Foxconn Misses Q1 Profit Forecasts
Foxconn, a key supplier for Apple, reported a net profit of US$679 million in the first quarter, falling short of analysts' expectations.
Impact of iPhone Sales Decline
The decline in iPhone sales in China contributed to Foxconn's lower-than-expected performance in the quarter.
Conclusion:
- Foxconn reported a net profit of US$679 million, missing analysts' estimates of US$897 million.
- The downturn in iPhone sales in China played a significant role in Foxconn's underperformance.
- Market challenges continue to impact Foxconn as a key supplier for Apple.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.