Net income in October-December fell 6.67 percent to $1.6 billion while revenue slipped 4.69 percent.

Foxconn’s stonking profits largely depend on the fruity cargo cult Apple, a situation which is likely to get worse after the outfit wrote a $3.5 billion takeover of ailing Japanese electronics firm Sharp which makes screens for Jobs’ mob.

The company said that while it enjoyed a 12.51 percent rise in full-year profit the drop in sales in the last three months reflected a slowdown at Apple, which saw the slowest sales growth ever of iPhones in the same period and warned of a decline in the current quarter.

Analyst Fubon said Hon Hai had enough firepower for the Sharp acquisition, adding that the losses piled up at the Japanese firm "should be manageable.”

Unless Apple has a bad year trying to sell products like the iPhone SE which is pretty much a rebadged iPhone 5S or its iPhone 7 fails to have any killer technology to make it worthwhile.