Foxconn shares slip amid weak demand for new iPhone, global trade tension
Taiwan News
Date: 2018/12/10
By: Scott Morgan, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – Foxconn’s share price decreased by 2.03 percent to NT$67.70
Foxconn signage. (By Associated Press)
(US$2.19) on the Taiwan Stock Exchange (TWSE) today, marking its lowest level in seven years, reported CNA.
The price tumble comes amid concerns over weak sales of Apple’s new iPhone models, and broader concerns over U.S.-China trade relations.
A total of 33.77 million Foxconn shares changed hands during trading today, with the share price closing at NT$67.70. Foxcon’s market capitalization also decreased from NT$957.7 billion to NT$938.3 billion.
Foxconn, one of the world’s leading electronic contract manufacturing companies, is reported to be responsible for assembly of the majority of the new iPhone models.
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