Apple Partner Hon Hai’s Profit Misses Despite iPhone Rebound

Hon Hai Precision Industry Co. reported its third consecutive quarterly profit miss, after Apple Inc.’s main assembler succumbed to a persistently weak Android phone market.

The company known as Foxconn, which makes most of Apple’s signature devices, reported net income of NT$12.8 billion ($417 million) for the first three months. That compared with the NT$29.8 billion average analysts’ estimate. Revenue rose almost 3% for the period, based on monthly sales figures.