Apple supplier forecasts strong demand for iPhone 12

Parts supplier Foxconn looking to make new products in the US

Apple boss Tim Cook at the launch of the iPhone 12. One of its chief suppliers, Foxconn, has forecast booming demand for the product.

Apple parts supplier Foxconn has forecast strong demand for the new iPhone 12 in the final quarter of the year and over the Christmas period and stressed that it would continue investing in the US, as scheduled, and is looking at making new products there.

Foxconn, formally Hon Hai Precision Industry, reported near flat third-quarter profit, beating market estimates amid firm demand for telecommuting devices amid a coronavirus-induced work-from-home trend.