Hon Hai 2nd-Quarter Earnings Growth Slows; Customers Await New iPhone Debut
August 13 2015 - 7:23AM
Dow Jones News
By Lorraine Luk
HONG KONG--Hon Hai Precision Industry Co. said Thursday its
second-quarter net profit rose 27% from a year earlier but growth
slowed from the previous quarter, as consumers delayed buying
smartphones before the new iPhone's launch in the fall.
Hon Hai, Apple Inc.'s major iPhone assembler, derives about half
of its revenue from Apple's orders.
The Taiwan-based contract manufacturer said its second-quarter
net profit rose to 25.69 billion New Taiwan dollars (US$800.9
million) from NT$20.19 billion a year earlier. It reported 56%
profit growth in the first quarter and 33% in the fourth
quarter.
Hon Hai said revenue rose 11% to NT$972.7 billion from NT$879.1
billion in the latest period.
Write to Lorraine Luk at lorraine.luk@wsj.com
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