Hon Hai Precision (HNHAF.PK), parent of top Apple (AAPL) contract manufacturer Foxconn, fell 7%...

|About: Hon Hai Precision Industry ... (HNHAF)|By:, SA News Editor

Hon Hai Precision (HNHAF.PK), parent of top Apple (AAPL) contract manufacturer Foxconn, fell 7% on the Taipei exchange after reporting Q1 net income fell 31% Y/Y to $510M, thanks to low margins and higher wages. The results stand in stark contrast to Apple's record FQ2 margins. Foxconn recently agreed to hike wages and change its labor practices following a critical report from the FLA. (also)