China July Mobile Phone Shipments Fall 14% Y/y: Industry Academy

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Foxconn reports surprise profit decline

BEIJING — Foxconn Technology Group posted a surprise 2.2% decline in second-quarter profit, even after its biggest customer Apple Inc. said recent demand for iPhones remained resilient.

Taiwan-based Foxconn said Monday that its net profit for the quarter ended June 30 was 17.5 billion New Taiwan dollars ($566.7 million). That compared with the NT$20.2 billion average estimate of analysts polled by S&P Capital IQ. Its net profit in the year-earlier quarter was NT$17.9 billion.

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