Foxconn sales hit by iPhone

ONN,

ONN, the major supplier of iPhones, yesterday said that sales in the first quarter of the year had fallen by almost a fifth, owing to weaker than expected demand for the device.

The Taiwanese firm, listed as Hon Hai Precision Industry, relies on Apple for 60 to 70 per cent of its revenues, and has been hit by disappointing sales for the latest iPhone. It said revenues were 19 per cent down year-on-year to 808.97bn Taiwanese dollars (£17.6bn) in the three-month period.

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