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KGI Securities analyst Ming-chi Kuo has suggested in a Reuters story that a 19% drop in sales by Apple supplier Foxconn may be due to disappointing demand for the iPhone …

Foxconn sales fell from T$988B (US$36B) in Q1 last year to T$809 (US$27B) in the same quarter this year.

“A quarterly decline was expected, but not a yearly decline,” said KGI Securities analyst Ming-chi Kuo. “This shows that Hon Hai’s revenue depends too much on Apple, and iPhone orders corrected more than expected.”

Around 60-70 percent of Foxconn’s work is for Apple, but the company is a supplier to other major companies and there has been no indication from the company itself that the fall in sales is Apple-related.