| Cult of Mac

iPhone X guts Foxconn profits


Foxconn Wisconsin
Foxconn workers in Shenzhen will not report next week until further notice.
Photo: Foxconn

Production issues with the iPhone X caused Apple’s biggest supply partner to suffer its biggest decline in profits in nearly a decade.

Hon Hai Precision Industry Co., aka Foxconn, posted its latest earnings today and disappointed investors by posting a 39 percent decline in net income compared to the same quarter last year.

iPhone Maker Foxconn Reveals iOS-Compatible Smartwatch



Apple may or may not be making a smartwatch, but that’s not stopping its partner, Hon Hai Precision Industry – better known by it’s trading name, Foxconn – from making an iPhone compatible watch of its own.

Hon Hai unveiled it’s first smartwatch today at a shareholders meeting. The device can connect wirelessly to an iPhone and provides data on users’ vitals, such as heartbeat and respiration. The smartwatch can even check phone calls and Facebook posts.

Oh, and remember how the iPhone 5S might be getting a fingerprint sensor? Hon Hai chairman Terry Gou said they’re working to add that to their smartwatch in the future along with some other health features.

Pegatron Undercuts Foxconn To Steal Apple Orders [Report]



Hon Hai Precision Industry, better known as Foxconn, has long been Apple’s biggest manufacturing partner, with around 60-70% of its revenue coming from the Cupertino company. But local rival Pegatron is hoping to change that.

By offering Apple more competitive prices and sacrificing its profit margins, Pegatron appears to be securing iPhone and iPad assembly orders that would have normally gone straight to Foxconn.