iPhone X delay hurts Hon Hai income, shares fall 2.8%

BEIJING - Hon Hai Precision Industry Co shares fell the most in more than a month after the world's biggest contract maker of electronics posted earnings that missed analyst estimates.

The shares fell as much as 2.8 percent to NT$103 ($3.40) in Taipei, the biggest intraday decline since Sept 20. Net income fell 39 percent to NT$21 billion in the three months ended September, far behind the NT$37.2 billion projected.

That was the largest fall in profit since the final quarter of 2008 for the company and comes amid hiccups that has disrupted production of Apple Inc's iPhone X.