Hong Kong-listed handset ODM FIH Mobile, a member of the Foxconn Group, has announced revenues of US$1.083 billion for the first quarter of 2016, dropping 46.22% on year.
The company also reported net losses of US$3.848 million for the first quarter, compared to net profits of US$65.286 million of a year earlier period.
Net profits for the first quarter of 2016 are expected to reach US$10-20 million, decreasing 84.4-92.2% from the same period of a year earlier, the company estimated.
Some major clients have undergone transformation processes, resulting in a significant decline in demand for its products and affecting its earnings, FIH explained.
Article translated by Steve Shen
