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Foxconn posted record profit through cost control despite first-ever sales decline

Key Apple assembler is set for a strong year ahead with launch of new iPhone

TAIPEI -- Key iPhone assembler Hon Hai Precision Industry, also known as Foxconn Technology Group, posted record net profit for the 2016 full year through tighter cost controls, despite suffering a year-on-year decline in revenue for the first time that was largely due to slowing demand for Apple's popular handsets.

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