iPhone Assembler Foxconn Posts Near 90% Drop in First Quarter Profit
Apple's main iPhone assembler Foxconn posted an almost 90 percent drop in first-quarter profit on Friday, as the impact of the global health crisis hit production demand from clients (via Reuters).

But the Taiwanese electronics manufacturer said the worst was over, and the company would "stabilize in the second quarter," adding that it expects revenue to show double-digit growth in comparison to the first quarter.
Foxconn reported net profit of T$2.1 billion ($70.25 million) for the January-March quarter, falling well short of a Refinitiv consensus estimate of T$8.88 billion drawn from 14 analysts.
Foxconn slashed its 2020 revenue outlook in March after strict quarantines were enforced at its China plants for a period in February, at the height of the crisis, which has now largely resolved in the country.
Apple sold fewer than 500,000 iPhones amid the ongoing curbs on travel and transport – a 60 percent slump in iPhone sales compared to the February 2019 quarter. The same month, Apple announced that its financial guidance for the March quarter would fall short. Foxconn went on to suffer its biggest monthly drop in revenue in about seven years because of the containment measures.
The manufacturer had earlier claimed the viral outbreak had had a "fairly small impact" on iPhone production, suggesting its factories in other countries like Vietnam, India, and Mexico had been able to fill the gap.
It and other factories in China have reportedly implemented stringent measures to prevent the another viral outbreak in the country, while the Chinese government is mandating that employers check temperatures and provide face masks to employees, as well as submitting daily reports on workers' health statuses.
Foxconn has since resumed normal operations at all of its main factories in China.
Popular Stories
While the iPhone 17 Pro and iPhone 17 Pro Max are not expected to launch until September, there are already plenty of rumors about the devices.
Below, we recap key changes rumored for the iPhone 17 Pro models as of March 2025:
Aluminum frame: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and iPhone 16 Pro models have a titanium frame, and the iPhone ...
Apple today released iOS 18.4 and iPadOS 18.4, the fourth major updates to the iOS 18 and iPadOS 18 operating system updates that came out last year. iOS 18.4 and iPadOS 18.4 come two months after Apple released iOS 18.3 and iPadOS 18.3.
Subscribe to the MacRumors YouTube channel for more videos.
The new software can be downloaded on eligible iPhones and iPads over-the-air by going to...
Apple's big developer event is a little over two months away, and rumors about what we can expect to see in Apple's next major operating system updates are becoming increasingly frequent.
A public release of iOS 18.4 is also imminent with a number of updates and improvements, although we won't be getting the major Apple Intelligence Siri upgrades that had reportedly been planned for this...
Apple is reportedly working on a new Magic Mouse. Below, we recap what to expect.
The two key rumors for the Magic Mouse 3 so far include a relocated charging port, along with a more ergonomic design.
It was briefly rumored that the Magic Mouse 3 would also feature voice control, but that was misinterpreted information.
Relocated Charging Port
While the Magic Mouse switched from...
With the second release candidate of iOS 18.4 that Apple seeded out today, the company finally provided us with release notes that give a full rundown on what to expect.
There's an Apple Vision Pro app, new Apple Intelligence features for notifications and additional language support, plus an Apple News Food feature for Apple News+ subscribers, and several updates that should improve the...
We've been hearing rumors about a foldable iPhone for almost a decade now, but it looks like we might finally see the device come to fruition in 2026. We're going to be waiting many more months for the foldable iPhone, but so far we're hearing good things.
Apple wants to make it creaseless. It's taken Apple multiple years to design a foldable iPhone that it's satisfied with because Apple ...
Multiple sources have claimed that iOS 19 will introduce a new design with more translucent buttons, menus, notification banners, and more, and there is now another clue that points towards this glass-like appearance.
Bloomberg's Mark Gurman today said the new design project is codenamed "Solarium" internally. A solarium is a room with glass walls that allow in plenty of sunlight, so this...
Apple today released macOS Sequoia 15.4, the fourth major update to the macOS Sequoia operating system that launched in September. macOS Sequoia 15.4 comes two months after the launch of macOS Sequoia 15.3.
Mac users can download the macOS Sequoia update through the Software Update section of System Settings. It is available for free on all Macs able to run macOS 15.
With...