TAIPEI -- Foxconn reported a net profit of NT$62.6 billion ($2.03 billion) in the fourth quarter, down 12.6% year-over-year.

For the year, net profit at the ODM/EMS fell 6.9% to NT$129.1 billion.

Gross profit margin rose 90 basis points year-over-year to 7% and operating margin was up 168 basis points to 3.55%.

Foxconn's growth has slowed as the smartphone market leveled, especially with tepid sales from Apple, Foxconn's biggest customer.