Foxconn’s profit down 39% on iPhone X production delays

“Foxconn Technology Group posted a 39% drop in quarterly net profit amid production challenges dogging its largest customer — Apple Inc. — over the new iPhone X,” Yoko Kubota reports for The Wall Street Journal.

“Taiwan-based Foxconn, known formally as Hon Hai Precision Industry Co., posted 21 billion New Taiwan dollars (about $695.5 million) in net profit in the three months to September, its statement showed Tuesday,” Kubota reports. “That was lower than the NT$35.6 billion average estimate of analysts polled by the S&P Global Market Intelligence.
Quarterly revenue was NT$1.1 trillion, nearly flat from a year before.”

“Suppliers and contract electronics makers that rely heavily on Apple are often hit when production bottlenecks emerge in Apple products,” Kubota reports. “Pegatron Corp., which assembles the iPhone 8, said last week that its quarterly net profit fell 32.4%, which analysts attributed to components shortage and labor issues.”

Read more in the full article here.

MacDailyNews Take: So, then profits are right around the corner for Foxconn.

Additionally, readers have been telling us of having their iPhone X shipping dates moved up, so it looks production is ramping nicely now.

5 Comments

  1. What delays? A friend of mine decided to order theirs more than 12 hours after preorder started, for a mid-December ship date, yet just got their iPhone X yesterday, only 6 business days later rather than 6 weeks later.

  2. Mine arrived exactly on time, November 3.

    My wife ordered hers last night, Apple says delivery December 13-20. We’ll see if this gets moved up.

    One month out isn’t bad at all.

  3. Ordered 2 units 1 hour after midnight on the first day. Backordered to Dec5-15. First arrived on the 6th and the second on the 10th.
    Very pleased with the fast turnaround.

  4. I ordered mine within a minute of preorder start… used Apple website. Unable to complete order. Given “reservation” no. instead. Later heard that ATT servers crashed. Still waiting. Apple email says Nov 21 delivery. UPS says expected date of delivery is Nov 17. (Departure scan from Shanghai 9:45pm Nov 14). We shall see…

    1st world problems, I know… still Frustrated.

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