Hon Hai Profit Growth Slows as PC Weakness Offsets IPhone Demand
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Hon Hai Precision Industry Co., the major assembler of Apple Inc. iPhones, posted its slowest profit gain in a year as tepid personal computer sales put at risk founder Terry Gou’s pledge for 10 percent annual revenue growth.
Third-quarter net income climbed 11 percent to NT$34.1 billion ($1.1 billion), the Taipei-based company said in a statement yesterday. Profit rose at the slowest pace since a 6.1 percent drop a year earlier and matched the NT$34.1 billion average of 16 analysts’ estimates compiled by Bloomberg.