November 21, 2018 / 12:05 PM / a month ago

Foxconn aims to cut $2.9 bln from expenses in 2019 - Bloomberg

Nov 21 (Reuters) - Taiwan’s Foxconn aims to cut 20 billion yuan ($2.88 billion) from expenses in 2019 as the company faces “a very difficult and competitive year”, Bloomberg reported on Wednesday, citing an internal memo.

Foxconn, formally known as Hon Hai Precision Industry Co Ltd, counts Apple Inc as one of its top customers for assembling iPhones.

Apple had warned earlier this month that its holiday sales would miss Wall Street expectations due to weakness in emerging markets, including India, and foreign-exchange costs. (Reporting by Arjun Panchadar in Bengaluru; Editing by Arun Koyyur)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below