Foxconn gave a cautious outlook for the currrent quarter after posting results that exceeded expectations, due to slowing smartphone demand after a pandemic-fuelled boom. The iPhone assembler said that rising inflation will only have a limited impact on mid- to high-end smartphone demand in the rest of the year.

source https://gadgets360.com/mobiles/news/foxconn-lower-smartphone-demand-q2-profits-apple-electronics-pandemic-3244275#rss-gadgets-all