Foxconn shares fall after Apple supplier’s Q1 profit plunges

TAIPEI : Shares of Foxconn fell more than 2 per cent on Friday after the Apple Inc supplier’s quarterly profit missed forecasts and it cited a big writedown from its stake in Japan’s Sharp Corp for the loss.

The stock of Foxconn, the world’s largest contract electronics maker, slid 2.4 per cent in early trade, while Sharp’s shares plunged 7 per cent.