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)
Remember to like our Facebook and our twitter @macheatdotcom for a chance to win a free iPad every month!