iPhone maker Foxconn sees revenues plummet as smartphone demand wanes

Taiwanese electronics giant and Apple Inc (NASDAQ:AAPL, ETR:APC)’s iPhone production partner Foxconn is bracing for a fall in revenues as market demand slows for Apple’s cornerstone product. Sluggish Chinese iPhone demand has been a pox on Apple and its partners of late, particularly in light of numerous rating downgrades from Barclays PLC (LSE:BARC) and Piper Sandler & Co. Foxconn, known formally as Hon Hai Precision Industry Co Ltd, noted that the first quarter is typically a quiet one for tech following ...