Foxconn Technology Group, a major supplier to Apple Inc., said the Taiwanese company’s net profit fell 12.6% in the fourth quarter against a backdrop of weak iPhone sales in China. The world’s largest electronics contract manufacturer delivered net profit of $62.62 billion New Taiwan dollars (US$2.0 billion), compared with NT$71.66 billion a year earlier. The result, however, did top the NT$37.68 billion average estimate of analysts polled by FactSet.

Source: Wall Street Journal March 29, 2019 13:01 UTC