IPhone Maker Hon Hai Warns of Fourth-Quarter Revenue Decline

(Bloomberg) — Hon Hai Precision Industry Co. warned that revenue will decline for a third straight quarter, spurring concerns about demand for Apple Inc.’s latest iPhone and consumer electronics.

The world’s largest assembler of iPhones posted a surprise 11% rise in net income to NT$43.13 billion ($1.3 billion) for the third quarter, but that was boosted by a nonoperating income gain of NT$11.1 billion from subsidiaries, interest and foreign exchange. It forecast that sales will decline during the holiday quarter.