Hon Hai first quarter sales down as iPhone disappoints

TAIPEI (Reuters) - Hon Hai Precision Industry Co Ltd, the main manufacturer of Apple Inc products, posted a 19 percent decline in sales in the first quarter compared with a year earlier, hurt by disappointing demand for the iPhone. From January to March, Hon Hai's sales totaled T$808.97 billion ($26.96 billion), down from T$988.34 billion in the fourth quarter and T$1 trillion in the first quarter last year. "A quarterly decline was expected, but not a yearly decline," said KGI Securities analyst Ming-chi Kuo. ...

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