IPhone maker's profit soars 33% as AI buoys sales

With Apple making up more than half of Hon Hai revenue, challenges remain.

The world’s largest assembler of Apple Inc.’s iPhones posted a 33% rise in net income to NT$53.2bn (€1.56bn)

Hon Hai Precision Industry reported its second straight quarter of strong profit growth after lucrative AI hardware sales helped offset weakness in iPhone and electronics demand.

The world’s largest assembler of Apple Inc.’s iPhones posted a 33% rise in net income to NT$53.2bn (€1.56bn) in the quarter ended December. That beat an average of analyst estimates of NT$43.8 billion, helped by a large one-time gain.