TAIPEI – Foxconn reported net profit in the third quarter of T$30.7 billion ($1 billion), up 23%, according to reports.

The firm attributed growth to improving margins from subsidiaries, including FIH Mobile.

Foxconn Chairman Liu Young-way expects slight growth in 2020 in the company’s consumer electronics and smart devices business, including smartphones and TVs.

Foxconn hopes to boost its gross profit to more than 10% in three to five years, from 6-7% currently.

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