BUSINESS OF IPHONES IPHONE ASSEMBLER BATTLES
THE CONTRAST between Apple’s ascension to a $1 trillion (R14.42trln) stock and the share performance of its biggest iPhone assembler just got even starker. Hon Hai Precision Industry has surrendered its position as Taiwan’s second-biggest stock after six years. Concern is mounting for some Taiwanese Apple suppliers, which are struggling to adjust to a new dynamic of higher-priced iPhones, because their revenue relies on the number of devices sold. Hon Hai has slipped behind Formosa Petrochemical, the island’s only publicly traded oil refiner, which has a market cap of $43 billion. Apple unveiled its new iPhone XS and XS Max devices earlier this month. – Bloomberg