IPhone Maker Foxconn’s Sales Decline as China Begins Probe
- Sticks with its outlook for ‘significant’ growth this quarter
- Apple and Foxconn face uncertainty in world’s No. 2 economy
This article is for subscribers only.
Hon Hai Precision Industry Co.’s October sales slid, reflecting uncertainty in its business after Beijing launched an investigation into the world’s biggest iPhone assembler.
Apple Inc.’s most important partner, also known as Foxconn, reported a 4.6% decline in October revenue to NT$741.2 billion ($23 billion). It’s also sticking with a “significant growth outlook” for the December quarter, which is typically Hon Hai’s busiest because of year-end iPhone shipments. Apple’s latest iPhone 15 hit store shelves in September.