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Benzinga
Benzinga
World
Shanthi Rexaline

Apple Supplier Foxconn Weathers It All To Report Highest Quarterly Profit In 8 Years

Foxconn Apple Nasdaq Hon Hai Inflation

Apple, Inc. (NASDAQ:AAPL)'s iPhone assembler Hon Hai Precision Industry Co., Ltd. (OTC:HNHPF) turned in forecast-beating results for the first quarter, defying the odds that included COVID lockdowns in China, supply challenges, input price inflation and demand slowdown.

What Happened: Hon Hai, widely known as Foxconn, reported a 5% increase in its first-quarter net income to NT$29.45 billion ($990 million), Nikkei Asia reported. This marked the biggest profit in eight years, the report noted.

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