Foxconn's first-quarter profit plunges on coronavirus fallout, sees better second-quarter
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TAIPEI (Reuters) - Taiwan's Foxconn posted an almost 90% drop in first-quarter profit on Friday, as the coronavirus pandemic disrupted production and hit demand from Apple Inc and other major clients.But the world's largest contract electronics manufacturer, formally called Hon Hai Precision Industry Co Ltd, said the worst of virus outbreak for the company was over."Hon Hai will stabilize in the second quarter," Foxconn said in a statement, adding that it expects revenue will show double-digit..