The main assembler of iPhone smartphones, Foxconn, reported that its profit in the past quarter reached
Uncertainty in the economy and geopoliticalrisks limit consumer spending. Previously, the company was protected in matters of marketing by the fact that it receives most of its income from deliveries to Apple. Current forecasts suggest that iPhone sales in China may experience a decline in demand, which will also weigh on Foxconn. To diversify its business, Foxconn is increasing its production of automotive electronics and smart home appliance solutions.