Foxconn's first-quarter profit tumbles almost 90% on coronavirus fallout
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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. The world's largest contract electronics manufacturer reported net profit of T$2.1 billion ($70.25 million) for the January-March quarter, falling well short of a Refinitiv consensus estimate of T$8.88 billion drawn from 14 analysts.Foxconn, formally called Hon Hai Precision Industry Co Ltd,..