Foxconn reported its largest year-over-year earnings decline in a decade because of the initial iPhone X production problems. Via Bloomberg, Hon Hai Precision Industry Co. (Foxconn) profits fell to $700 million in calendar Q3, a 40% decline compared to the same quarter in the previous year.
Foxconn profitability suffered as it could not assemble as many iPhone X devices as it wanted to as supply for components was so constrained. The production problems relating to the Face ID 3D sensor has been sourced from various publications over the last few months.
