Apple iPhone supplier saw profits fall 24% ahead of virus disruption

Taiwanese electronics manufacturer Foxconn has reported a 23.7% fall in profit for the last three months of 2019, as it braces for the impact from the coronavirus pandemic that has hit demand from key customers such as Apple.

Foxconn, which assembles iPhones at factories in China, reported net profit of $1.6bn (€1.4bn). The fall came after tepid smartphone demand and US-Chinese tensions depressed sales ahead of the outbreak.