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Business

Largan Precision shares plunge on report of sales drop

Taiwanese maker of camera lenses takes hit US as tech giant cuts iPhone X orders

Apple iPhone X handsets are displayed at an Apple Store in Paris on Nov. 3.   © Reuters

TAIPEI -- Shares of iPhone camera lens maker Largan Precision plunged Wednesday, closing down nearly 10%, after the supplier to gadget maker Apple warned that its revenue in December will fall, versus the previous month, during a traditionally strong period for iPhone shipments.

According to a report by Taiwan's Economic Daily News published Wednesday, Largan's weakness in December comes from a drop in orders from some customers, although it did not specify which ones.

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