Apple supplier Foxconn's Q1 profit falls 56% y/y, worse than forecasts

TAIPEI, May 11 (Reuters) - Apple Inc AAPL.O supplier Foxconn 2317.TW reported on Thursday a 56% fall in first-quarter profit, as global economic woes hurt demand for smart consumer electronics.

The Taiwanese company, which is the world's largest contract electronics maker, said profit for the January-March quarter fell to T$12.8 billion ($417.17 million) from T$29.45 billion in the same period the previous year.

It was much worse than an average forecast of T$29.18 billion profit from 13 analysts, according to Refinitiv.

($1 = 30.6830 Taiwan dollars)

(Reporting by Yimou Lee; Editing by Jacqueline Wong)

((ben.blanchard@thomsonreuters.com;))