TAIPEI – Foxconn reported third-quarter revenue of $32.6 billion, up 12% year-over-year.

Net profit was $1.16 billion, up 11% compared to the same quarter last year. New iPhones drove greater growth in net profit than expected.

Although Apple hasn’t been hit with recent slowdowns in the smartphone sector, some analysts say iPhone sales could slow in the near future.

Apple reported a 31% earnings increase in October, but overall growth in the global smartphone market slowed to 6.8% in the third quarter, from a 25.2% pace a year earlier, according to IDC.