TOKYO -- Japanese robot maker Fanuc expects group net profit to plunge 60% in the fiscal year ending March 2020 amid a decline in smartphone-related orders, a trend that looks unlikely to improve even with the transition to 5G.
The company had flourished in recent years thanks to the smartphone boom. Its Robodrill machine tools are widely used to make metal casings for handsets including the iPhone. But demand has fallen off lately, which means fewer equipment orders from Chinese factories.
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