Foxconn Technology Group, the world’s biggest iPhone assembler, said demand for smartphones and other consumer electronics is slowing, leading it to take a more cautious stance in the current quarter.
Foxconn Chairman Young Liu said the smartphone market could remain flat compared with a year earlier. He listed possible risks including inflation, the pandemic and the evolving geopolitical situation—a growing concern after a week in which China staged military drills around Taiwan, where Foxconn is based.