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Hon Hai's Profit Miss Reflects Growing iPhone-Supplier Woes

  • The assembler of much of the world’s iPhones disappoints
  • Apple’s suppliers are hurting as device volume growth stall
Bloomberg business news
Apple’s biggest iPhone assembler, Foxconn, missed earnings estimates by 12 percent. Ramy Inocencio reports.(Source: Bloomberg)
Updated on

Hon Hai Precision Industry Co.’s disappointing earnings will fan fears that Apple Inc.’s legion of global hardware suppliers are in for hard times.

The main assembler of iPhones reported net income of NT$24.9 billion ($806 million) in the September quarter, about 12 percent below the average analysts’ estimate. Hon Hai joins a string of Apple suppliers that’ve warned of a worsening outlook as iPhone volumes plateau alongside a lethargic smartphone market.