*CHINA JULY MOBILE PHONE SHIPMENTS FALL 14% Y/Y:INDUSTRY ACADEMY
Apple is toast
— Sunchartist (@Sunchartist) August 13, 2018
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.