Apple iPhone supplier Foxconn posts profit surge but cautions over rise in Covid cases in Asia
Despite the bearish outlook, analysts said Apple's upcoming iPhone 13 models would still boost Foxconn's business.
Foxconn, which assembles Apple's iPhones, reported a consensus-beating 30% surge in quarterly profit but cautioned it would have to "wait and see" if the worsening Covid-19 crisis in Asia would hurt its supply chain.
The world's largest contract electronics maker has benefited from strong demand for technology products as people continue to telecommute amid the pandemic - a trend smartphone and laptop sellers such as Samsung and Lenovo say is likely to persist.
