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iPhone Assembler Foxconn Reports One-Percent Drop in Q2 Net Profit Amid Weak Global Demand for Electronics

iPhone assembler Foxconn on Monday reported that its Q2 net profits have dropped by one percent, amid a decline in consumer demand. The net profit for the April-June quarter slipped to T$33 billion (roughly Rs. XXX crore), according to the Apple supplier. Foxconn said it expects revenue for smart consumer electronics to see a year-on-year decline in Q3 2023.

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