Foxconn's FIH Mobile warns of 52 percent drop in net profit in 2016
Mobile phone maker FIH Mobile Ltd (2038.HK) warned on Monday its consolidated net profit would more than halve this year as weaker sales dent business at the Hong Kong-listed unit of Hon Hai Precision Industry Co (2317.TW).
The 52-percent slide in profit expected by FIH Mobile underscores the challenges of a saturated smartphone industry and slowdown in demand from major markets such as China.
The pressures have also been felt at FIH's Taiwan-based parent Hon Hai, which is the world's biggest electronics manufacturer and goes by the trade name Foxconn.
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