Foxconn, the world's largest contract electronics maker and a key supplier for Apple, reported a 9.6% drop in revenue in the first quarter of the year compared to the same period last year. This decline is attributed to a decrease in iPhone sales, particularly in China, where Apple's sales fell by 20% in the first 12 weeks of the year despite large discounts. Other phone brands saw increases, with Vivo and iQOO up 16.9%, Honor up 15.8%, Huawei & Apple at 15.5%, Oppo+OnePlus at 14.7%, and Xiaomi at 14.5%. In response to the slump in orders, particularly from Xiaomi, Foxconn's Bharat FIH campus near Chennai is exploring diversification into new segments. Despite the first-quarter downturn, Foxconn anticipates growth in the second quarter, both quarter-over-quarter and year-over-year, aligning with projections for an 8% rise in sales. The upcoming release of the P70 in a week is expected to impact Q2 negatively.