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iPhone maker Foxconn's profits slump 56 percent in first quarter
iPhone maker Foxconn's profits slump 56 percent in first quarter
Business and Economy
by  AFP

Profits for Taiwanese tech giant and key Apple supplier Foxconn fell 56 percent in the first quarter, it announced Thursday, a plunge blamed on weakened demand due to a global downturn. During Thursday's earnings call, Foxconn Chairman Young Liu blamed the profit plunge on unspecified "asset write-off from non operational business".