iPhone supplier Foxconn records bumper Q1 profits
(iMore iPhone)

The company posted profits of around $1 billion. What you need to know Apple supplier Foxconn has posted profits of around $1 billion. It smashed forecasts and estimates as it continues to capitalize on the demand for devices driven by working from home. Apple`s largest supplier Foxconn, maker of devices like the iPhone 12, has smashed expectations and recorded a profit of around $1 billion for Q1 of 2021. From Reuters: Taiwan`s Foxconn, which assembles iPhones for Apple, on Friday reported better-than-expected first-quarter profit amid the work-from-home trend spurred by the COVID-19 pandemic that has stoked demand for electronic devices. Officially known as Hon Hai Precision Industry Co, the world`s biggest contract electronics maker said January-March net profit surged to T$28.2 billion ($1 billion) from T$2.1 billion in a pandemic-hit first quarter a year earlier, beating an average forecast of T$24.41 billion compiled from 11 analysts` estimates by Refinitiv. L...