Hong Kong ( CNN ) -- The parent company of Apple 's biggest parts supplier , Taiwan-based Hon Hai Precision Industry , also known as Foxconn , had a 19.2 % drop in revenue during the first quarter as iPhone orders slowed down faster than expected . Hon Hai reported first quarter 2013 revenue of nearly $ 27 billion , down from $ 33.4 billion during the same period last year , according to company reports . Hon Hai 's share price fell 0.25 % by mid-day trading Thursday . The company 's share price has fallen nearly 9 % year-to-date . Richard Lai , Editor-in-chief for Engadget China , says that increased competition in the smartphone market suggests an overreliance on Apple behind Foxconn woes . `` If you go along the streets now , a lot of people are holding a Samsung device more than an Apple device . Many people are getting bored with the iPhone look or frustrated with the iPhone 's battery life . On the other hand , Samsung has been offering better battery life and bigger screens . '' In 2012 , Samsung toppled Apple as the world 's largest smartphone maker . According to IDC , Samsung held 29 % global market share in the fourth quarter of 2012 ; Apple trailed at number two with 21.8 % . As for Hon Hai 's sales slump , Lai points out the company has other businesses that may not be doing well . `` In China , they have Cybermart , a chain of retail stores that sells electronics . Hon Hai also sells an HDTV , under the Radio Shack brand , '' Lai said . `` But until Hon Hai releases its next earnings report we wo n't be able to know ... about where they 've failed . '' Apple is scheduled to report first quarter earnings on April 23 . Apple 's share price is down 18 % year-to-date .
Foxconn reports 19.2 % drop in revenue during the first quarter on slower iPhone orders . Editor-in-chief for Engadet China says Foxconn may be too reliant on Apple . Samsung toppled Apple as the world 's largest smartphone maker in 2012 . Apple scheduled to report first quarter earnings on April 23 .