Apple partner says full-year visibility 'limited' amid economic uncertainty
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Foxconn, also known as HonHai Precision (OTCPK:HNHPF), said on Thursday that its visibility for the full-year is "limited" after it reported a sharp plunge in profit for the first quarter.
On the company's earnings call, Foxconn said net profit fell to $417.7M for the period, down from nearly $950M in the year-ago period. 
In addition, Foxconn Chairman Liu Young-way said the Taiwan-based manufacturer was keeping a conservative outlook due to limited visibility for the rest of the year amid the uncertain global economic environment. 
Foxconn initially reported first-quarter results last month.
Foxconn, which manufactures products for Apple (NASDAQ:AAPL) including the iPhone, expects sales for the consumer electronics products to fall year-over-year and on a sequential basis.
Last week, Foxconn (OTCPK:HNHPF) said the decline was due to "the seasonal off-peak period as new and old products transition" and "unseasonally strong pull-in in the first half of last year."
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