TAIPEI: Taiwan's Foxconn, which assembles iPhones for Apple, reported a better-than-expected third-quarter profit on Friday , helped by strong smartphone demand as people continue to work remotely through the coronavirus pandemic.
Foxconn previously said it felt only a small impact from the year-long global chip shortage but had cautioned that rising COVID-19 cases in Asia could hurt its supply chain. Analysts had said they expected robust iPhone sales boosted Foxconn's business in the third quarter, and the company secured more than 75 per cent of assembly orders, including those for the latest iPhone 13. But they cautioned that supply chain problems could mute any further near-term increase in orders at Foxconn.
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