Apple’s iPhone X is believed to be selling well below expectations, and in addition to the parent company, which is the first one suffering from the poor demand, suppliers are also reporting lower revenues and profit.
Hon Hai Precision Industry Co., more often referred to as Foxconn, has revealed a net income of $2.5 billion for the fourth quarter of 2017 ending in December, and data shows that this time, it wasn’t Apple the one that contributed to this figure.
In fact, Bloomberg notes citing financial analysts that this could have been the company’s worst holiday quarter since 2010 “were it not for a one-time gain of $2.2-billion from the sale of Sharp shares.”
On the good side, Foxconn expected $2 billion net income for the quarter, so the company did exceed expectations, but without the Sharp sale, Q4 would have become the company’s lo… (read more)
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