Ron Burgundy Posted January 6, 2016 Share Posted January 6, 2016 Taiwan-based Foxconn, formally known as Hon Hai Precision Industry Co Ltd , will cut working hours over the week-long Lunar New Year holiday, according to a person familiar with the matter, a rare move that analysts said could be a sign of softening demand for the iPhone. Japanese daily Nikkei, citing parts suppliers, said output of the iPhone models would be cut by about 30 percent in the January-March time frame so dealers could offload stock. The iPhone accounts for the vast majority of Apple's revenue and profits, and worries about slowing sales have weighed on the stock, which has fallen nearly 19 percent over the last six months. View the full article Quote Link to comment Share on other sites More sharing options...
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