Foxconn reports lower than expected Q2 earnings; report bodes poorly for global smartphone market

Contract manufacturer Foxconn, known as the company that assembles the majority of Apple iPhone units, surprised analysts today by reporting lower than expected earnings for the second quarter. For the three month period from April through June, the company earned the equivalent of $567.25 million USD. That was well below the mean estimate of $711.45 million USD forecast by nine analysts.

Foxconn's lower than expected report could be a symptom of a global smartphone market that isn't exactly setting the world on fire. It also points toward tepid handset sales globally ...

Source PhoneArena https://ift.tt/2vIQpnV
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