The company known as Foxconn, which makes most of Apple’s signature devices, reported net income of NT$12.8 billion ($417 million) for the first three months. That compared with the NT$29.8 billion average analysts’ estimate. Revenue rose almost 3% for the period, based on monthly sales figures.
Stronger-than-expected iPhone sales during the March quarter failed to completely offset weakness in overall Android phone-making. Foxconn and the broader smartphone industry continue to struggle with weak demand as consumers brace for a potential recession… Foxconn counts a plethora of Android phone makers among its clients, from Alphabet Inc.’s Google to Xiaomi Corp.
Foxconn has diversified its supply chain by expanding capacity outside of China, which has been its primary location for assembly almost since Steve Jobs introduced the device in 2007. The US company tripled iPhone production in India to $7 billion in the past fiscal year through help from its main assemblers, including Foxconn.
