Apple supplier Foxconn reports 12% profit in June quarter

Apple's supplier Foxconn reported a 12% jump in second-quarter net profit, aided by strong demand for its cloud computing products. The Taiwan-based company said that net profit for the April-June quarter rose to T$33.29 billion from T$29.78 billion a year ago. Experts have warned that Apple should brace for softer demand in China as COVID-19 lockdowns have affected the economy.