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Taiwan's Pegatron Q3 profit slightly lags forecasts

TAIPEI, Nov 11 (Reuters) - Apple Inc assembler Pegatron Corp reported a lower-than-expected third-quarter net profit of T$2.48 billion ($84.29 million) on Monday as order cutbacks for the cheaper iPhone 5C took a bite out of the Taipei-based contract manufacturer's bottom line.

The results for Pegatron, which also produces laptops for Lenovo Group Ltd and former parent company Asustek Computer Inc, compared to analyst forecasts of T$2.55 billion, according to Reuters SmartEstimates.

The figure also compares to a net profit of T$1.39 billion in the previous quarter and T$1.35 billion in the same quarter a year ago.

The company's stock hit an all-time high in May on reports that it was snatching more orders from longtime Apple supplier Hon Hai Precision Industry Co Ltd but has since sunk by a quarter. Over the summer, the company was hit by accusations of labor abuse by the China Labor Watch, a rights group.

Since then, reports of less-than-stellar sales of the iPhone 5C had made industry-watchers wary of the company's prospects going into the last few months of the year.