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Foxconn's third-quarter profit tumbles after iPhone X production hurdles

Reuters  |  TAIPEI 

By Jess Macy YuTAIPEI (Reuters) - Taiwan's Foxconn reported a 39 percent slide in quarterly profit, far worse than expected, as the assembler of Apple Inc products saw margins squeezed by production bottlenecks for the iPhone X.While the 10th anniversary version of iPhone has seen parts suppliers struggle with specifications for new features such as facial recognition and edge-to-edge display, red-hot demand for the product, which went on sale this month, is expected to lead to a relatively rapid recovery for Foxconn.Apple has predicted strong holiday sales and said it is happy with how ...

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First Published: Wed, November 15 2017. 11:28 IST