Foxconn says watching for impact from worsening Covid-19 in Asia

TAIPEI (Reuters) -Foxconn, which assembles Apple’s iPhones, reported a consensus-beating 30% surge in quarterly profit on Thursday 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 Electronics and Lenovo say is likely to persist.

For the Taiwanese company, demand for smartphones has been the main driver of record high net profit and revenue in the first half of the year, Chief Financial Officer David Huang said on a conference call to discuss second-quarter results.