TAIWAN – Foxconn reported second quarter revenue of $37.9 billion, up 7.4% year-over-year.

Net profit for the quarter dropped 2.5% to $541.5 million, as a result of Apple’s weak iPhone sales, according to reports.

During the quarter ended June 29, iPhone sales reportedly slowed 12% as a result of customers retaining smartphones longer and because of competition from Chinese producers offering lower-price, feature-rich handsets.

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