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iPhone Maker Hon Hai’s Profit Slides Ahead of Virus Outbreak

  • The company known as Foxconn grappling with Covid-19 upheaval
  • Apple’s key partner getting back on track after the outbreak
Inside the Most Ambitious Push Yet to Make iPhones Outside China
Photographer: Karen Dias/Bloomberg
Updated on

Hon Hai Precision Industry Co.’s quarterly profit fell 24% after tepid smartphone demand and U.S.-Chinese tensions depressed sales ahead of the coronavirus outbreak.

Apple Inc.’s most important manufacturing partner posted net income of NT$47.8 billion ($1.58 billion) in the October-December period, based on calculations by Bloomberg News off information Hon Hai has submitted to the local stock exchange. That’s down from NT$62.2 billion in the same quarter of 2018.