Foxconn Technology chairman Terry Gou says his company’s business will remain strong, at least until January, amid growing concerns over cooling demand for Apple’s flagship phones.

A leaked memo from the iPhone-assembler reportedly said 2019 would be a very difficult and competitive year for Foxconn. 

The company will slash 20 billion yuan in expenses, with six billion yuan coming from its iPhone unit. It also plans to cut 10 per cent of its non-technical staff.

Gou dismissed speculation that the Taiwan-based company will eliminate tens of thousands of jobs in China.