Foxconn reported its largest year-over-year earnings decline in a decade because of the initial iPhone X production problems. Via Bloomberg, Hon Hai Precision Industry Co. (Foxconn) profits fell to $700 million in calendar Q3, a 40% decline compared to the same quarter in the previous year.
iPhone X guts Foxconn profits
Production issues with the iPhone X caused Apple’s biggest supply partner to suffer its biggest decline in profits in nearly a decade. Hon Hai Precision Industry Co., aka Foxconn, posted its latest earnings today and disappointed investors by posting a 39 percent decline in net income compared to the same quarter last year. Delays in