Foxconn, the world’s largest contract electronics manufacturer and Apple’s largest manufacturing partner, today released its fourth-quarter report. And although revenue in annual terms increased by 15%, its net profit decreased, being 10% below the average forecast of analysts.
More specifically, despite strong iPhone 12 sales and increased demand for teleworking devices due to the pandemic, the Taiwanese company generated a net income of $ 1.61 billion. This is 4% less than in the fourth quarter of 2019.
Foxconn projects revenue growth of about 10% for the current year.