Apple Partner Foxconn Reports Major Profit Drop Caused by iPhone X Delays

Hon Hai/Foxconn has reported a major profit drop in the three-month period ending September 2017, as the company’s earnings were dramatically impacted by the delay the iPhone X experienced.

Foxconn, which makes the iPhone X and the iPhone 8 Plus, report NT$21 billion ($696 million) net income, down from the original forecast of NT$37.2 billion, as Bloomberg reports.

With sales of the iPhone 8 Plus not big enough to compensate for the iPhone X delay, Foxconn expects a return to growth the next quarters when Apple’s anniversary model would become available worldwide without any shipping delay. Right now, the waiting time for the iPhone X is up to 4 weeks, and analysts expect the device to become available in stores for walk-in customers in early 2018.

One of the reasons behind the iPhone X delay was the complex nature of some parts develope… (read more)

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Juniya Sankara

Juniya Sankara

A web developer, programmer, MacOS fanatic. I also love comic books, sports and I enjoy researching history facts. My role on is to make sure everything works 24/7.