Hon Hai's Profit Falls Most Since 2008 as iPhone Delays Hurt
- Apple’s main assembly partner faced tepid iPhone 8 demand
- Hiccups in iPhone production may have dampened business
Munster Sees Supply as Issue for Apple iPhone X
This article is for subscribers only.
Hon Hai Precision Industry Co. posted its biggest earnings decline in almost nine years as technical hiccups disrupted production of Apple Inc.’s 10th-anniversary iPhone.
Apple’s main device-assembler reported a 39 percent decline in net income to NT$21 billion ($696 million) in the three months ended September, lagging the NT$37.2 billion projected. That was the largest fall in profit since the final quarter of 2008 for the Taiwanese company, which gets more than half its business from Apple.