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Tim Culpan

Apple’s Major Supplier Takes One for the Team

The company’s inventories kept piling up, even as iPhone sales fell. That’s the price of loyalty.

Loyalty pledge. — Loyalty pledge.
Photographer: Qilai Shen/Bloomberg

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April 2, 2019, 3:57 AM UTC

It looks like Foxconn Technology Group is taking one for the team.

In an earnings report filed overnight in Taiwan, data show a rise in inventory at a time when revenue was slowing, and sales at its major client, Apple Inc., dropped.