Hon Hai Precision Industry’s October sales slid, reflecting uncertainty in its business after Beijing launched an investigation into the world’s biggest iPhone assembler.
Apple’s most important partner, also known as Foxconn, reported a 4.6 percent decline in October revenue to NT$741.2 billion (HK$180.7 billion). It’s also sticking with a “significant growth outlook” for the December quarter, which is typically Hon Hai’s busiest because of year-end iPhone shipments. Apple’s latest iPhone 15 hit store shelves in September.
“Operations will ramp up sequentially,” the company said in a brief statement.
The investigation in China complicates Apple’s position in its largest international market and production base. Regulators there are conducting tax audits and reviewing land use by Foxconn.
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