Hon Hai's profit falls most since 2008

Hon Hai Precision Industry posted its biggest earnings decline in almost nine years as technical hiccups disrupted production of Apple’s 10th-anniversary iPhone. Apple’s main device-assembler reported a 39 per cent decline in net income to NT$21 billion ($696 million) in the three months ended September, lagging the NT$37.2 billion projected. That was the largest fall in profit since the final quarter of 2008 for the Taiwanese company, which gets more than half its business from Apple. Apple’s decision to adopt technically demanding facial-scanning sensors for the iPhone X initially stymied some suppliers and held back Hon Hai’s business in turn.