Foxconn's profit beats estimates, sees sustained revenue weakness ahead

Foxconn, the world's largest contract electronics manufacturer, posted a better-than-expected quarterly profit and forecast its smartphones business would see sustained revenue weakness but at a slightly slower pace this quarter. The Taipei-based company, however, is expected by analysts to boost its revenue recovery in the months ahead, underpinned by the expected launch in autumn of a new lineup of iPhones by Apple Inc , a major client of Foxconn's.

Foxconn reported a net profit of T$22.9 billion ($778.54 million) for.....

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