Apple supplier Foxconn warns on consumer electronics demand as Q4 profit dips

TAIPEI :Apple Inc supplier Foxconn said on Wednesday it expected smart consumer electronics demand would decline slightly this year, as it reported a 10 per cent fall in fourth-quarter net profit from a year earlier, in line with analysts estimates.

Foxconn grabbed headlines in November when curbs to control COVID-19 prompted thousands of workers to leave its massive factory in China's Zhengzhou city, also the world's largest iPhone plant. This disrupted production ahead of Christmas and January's Lunar New Year holidays. In the fourth quarter, revenue for its key consumer electronics products division was flat compared to a year ago, the company said in a statement, without elaborating.

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Apple supplier Foxconn's Q4 profit falls 10%, in line with estimatesTAIPEI :Apple Inc supplier Foxconn reported on Wednesday a 10 per cent fall in fourth-quarter net profit from a year earlier, as production at its biggest iPhone factory was disrupted by China's strict COVID-19 rules.The world's largest contract electronics maker forecast revenues for the first quarter and 20
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