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Foxconn’s profits fell because of Apple

Foxconn is involved in the Assembly of the iPhone, reported the largest loss of revenue due to problems with production of the iPhone X.

According to the publication Bloomberg, Foxconn’s profits in the third fiscal quarter fell to $ 700 million. That is down 40% compared to the same period last year.

Foxconn revenues fell due to the fact that it has failed to produce enough iPhone X to the beginning of sales of the device. The Assembly of the new Apple smartphone has slowed down greatly because of the problems with 3D sensor for Face ID. Compounding the situation is the fact that the company has staked on iPhone X, dividing the production of the iPhone 8 with other collectors.

However, investors a sharp decline in profit is not scary, as rapid growth is expected in the next quarter. The fact that Apple plans to sell 80 million smartphones during the holidays and again expects record profit. It also has a positive impact on the revenues of Foxconn and other companies that collect iPhone.

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