Apple supplier Hon Hai Precision Industry reports sales slump as concerns rise

Taiwan’s Hon Hai Precision Industry, which assembles the bulk of Apple’s latest smartphones, saw its December revenues slump by a fifth and full-year sales miss expectations.

The results, published yesterday, came amid growing concerns about slowing shipments of Apple’s latest iPhone 6S models, which Hon Hai assembles.

Analysts said Hon Hai’s results could be an indicator of demand for Apple’s products in the first quarter of this year, but added that period was not normally a peak selling season and past iPhone cycles had followed a similar pattern, where an interim update on a model edition tends to see slower sales.