Apple supplier Foxconn's profit down 24% in 4Q 2019

Foxconn, which assembles iPhones at factories in China, reported net profit of T$47.76 billion ($1.6 billion.

TAIPEI: Taiwanese electronics manufacturer Foxconn reported a 23.7% fall in profit in the last three months of 2019 on Monday as it braces for the impact from the coronavirus pandemic that has hit demand from key customers such as Apple.

Foxconn, which assembles iPhones at factories in China, reported net profit of T$47.76 billion ($1.6 billion), according to Reuters calculations, slightly above an average forecast of T$46.94 billion from 14 analysts compiled by Refinitiv.