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Friday, March 31, 2017
Hon Hai's Profit Rises On Strong iPhone Sales

Hon Hai Precision Industry, the main assembler of Apple's devices, reported a rise in quarterly earnings attributed to record iPhone sales.

The company 30 percent increase in net income to NT$68.8 billion ($2.3 billion) in the three months ended December.

Hon Hai derives about half its sales from Apple, which shipped 78.3 million iPhones during the December quarter, despite its latest device representing a modest update on its predecessor. Apple will also release its 10th anniversary iPhone latert this year.

Hon Hai's strong results were also attributed to the turnaround of Sharp's financial figures, which last month reported its first quarterly profit in over two years. Hon Hai owns a high stake in Sharp.

The next iPhone is anticipated to have a sharper, power-efficient organic light-emitting diode screen; glass casing; wireless charging; a second front-facing camera; and enhanced waterproofing, according to analysts.

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