Apple supplier’s revenue hammered by coronavirus fallout

Manufacturing partner of Apple, Foxconn reported its biggest monthly drop in revenue in about seven years  as the coronavirus outbreak continued to play havoc with its business. The Taiwanese company, which assembles Apple’s (AAPL.O) iPhones, saw revenue sink 18.1% in February compared with a year earlier – the biggest monthly fall since March 2013 and the third straight month of decline. It warned the coronavirus epidemic would hit its bottom line in the first quarter.

Foxconn is among manufacturers worldwide grappling with virus-related curbs that have disrupted supply chains and dampened demand.

Source: Ary