IPhone Maker Hon Hai’s October Sales Growth Slows on Weak Demand
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Apple Inc.’s major manufacturing partner Hon Hai Precision Industry Co. reported its slowest monthly sales growth since February, stoking concerns about demand momentum for both AI infrastructure and iPhones.
Hon Hai, also a key server assembly partner to Nvidia Corp., on Tuesday reported sales of NT$804.9 billion ($25.2 billion) for October, up 8.6%. Analysts expect the company to grow its sales by 15% to NT$2.13 trillion in the current quarter. The iPhone assembler’s tepid sales growth appeared to reinforce Apple’s weak forecast for the holiday quarter.