iPhone Maker Foxconn Posts Profit In Q4 2016 On Strong iPhone 7 Sales

Foxconn, the largest assembler of Apple’s iPhones, posted Friday a 30 percent growth in profit for the fourth quarter of 2016 in a year-on-year comparison with the same quarter of 2015, defying expectations of a loss following structural changes. The profit has been credited to strong iPhone sales in the quarter, according to Reuters.