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Foxconn's profit drops 39% in Q3 due to late shipments

Foxconn, formally known as Hon Hai Precision Industry Co, said third-quarter earnings came in at $698 million

Reuters  |  TAIPEI 

Taiwan's Foxconn <2317.TW>, the world's largest contract electronics manufacturer and a major Apple supplier , posted a 39 percent drop in third-quarter earnings due to later-than-expected product shipments. The iPhone X, Apple's highly anticipated smartphone product, went on sale on Nov 3, after facing a string of production issues centred on new technologies and features on the device. Foxconn, formally known as Hon Hai Precision Industry Co, said third-quarter earnings came in at T$21.03 billion ($698 million), compared with T$34.64 billion a year earlier, ...

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First Published: Wed, November 15 2017. 08:18 IST
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