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Foxconn's quarterly profit slides 39 pct amid shipment woes
November 15, 2017 / 12:40 AM / 9 days ago

Foxconn's quarterly profit slides 39 pct amid shipment woes

TAIPEI, Nov 15 (Reuters) - Taiwan’s Foxconn, the world’s largest contract electronics manufacturer and a major Apple supplier, posted a 39 percent drop in third-quarter earnings due to later-than-expected product shipments.

The iPhone X, Apple’s highly anticipated smartphone product, went on sale on Nov. 3, after facing a string of production issues centered on new technologies and features on the device.

Foxconn, formally known as Hon Hai Precision Industry Co, said third-quarter earnings came in at T$21.03 billion ($698 million), compared with T$34.64 billion a year earlier, while revenue for the quarter was flat.

Reporting By Jess Macy Yu; Editing by Richard Pullin

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