Foxconn’s Sales Decline as China Launches Probe

The iPhone maker, Foxconn, has experienced a decline in sales as China begins an investigation into the company. Despite this, Foxconn remains optimistic about its growth prospects for the current quarter. Both Apple and Foxconn are facing uncertainty in the second-largest economy in the world. In October, Foxconn’s revenue dropped by 4.6% to NT$741.2 billion ($23 billion). However, the company is still expecting significant growth in the December quarter, which is typically its busiest period due to the shipment of iPhones for the year-end. Apple’s latest iPhone 15 was released in September.