, Columnist
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.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
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.