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Foxconn will seek management changes at Sharp if losses persist

Key iPhone assembler sees earnings plunge 56% due to display market woes

Taiwan's Foxconn is betting on EVs as a new growth pillar amid a slowdown in the smartphone industry.   © AP

TAIPEI -- Key iPhone assembler Foxconn on Thursday said it would ask affiliate Sharp to "adjust" its management team if the Japanese tech company failed to improve its operations after reporting a significant net loss and impairment.

Foxconn's net income in the first quarter fell 56% on the year, weighed down by headwinds at Sharp related to a sluggish display market.

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