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Foxconn Posts Lift In Q4 Profit

Foxconn Posts Lift In Q4 Profit

Foxconn, the world’s largest contract electronics maker and a key Apple supplier, posted a 30 percent jump in fourth quarter net profit, despite a revenue decline of 2.8 percent, its first decline since the company listed shares on the Taiwan Stock Exchange in 1991.

The profit was likely to have been boosted by solid bookings for Apple’s bigger-sized iPhone 7 models, which Foxconn, formally known as Hon Hai Precision Industry, assembles, analysts said.

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