IPhone Maker Foxconn’s Profit Gutted by Smartphone Slump
- Hon Hai’s net income dived 89% in virus-hit first quarter
- Apple’s main partner drives home extent of global malaise
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Hon Hai Precision Industry Co. forecast another revenue decline after profit plunged by the most on record in the March quarter, when the novel coronavirus froze much of its China production and walloped global smartphone demand.