Apple-supplier Foxconn sees good year, with help from AI

Reuters Videos
8 個月前

STORY: iPhone-maker Foxconn has had a slow start to the year, but it believes things are about to turn around.

The Apple supplier said Thursday it expects revenue to rise significantly this year.

It credited booming demand for AI servers as one factor after it posted fourth-quarter profit that beat market expectations.

The outlook has turned brighter since November, when Foxconn said it had 'conservative and neutral' expectations for 2024.

The Taiwanese company said October-to-December net profit jumped a third on the year to $1.69 billion.

It saw strong demand for AI servers and increased sales during the peak year-end holiday season.

Consumer electronics including smartphones made up most of the revenue.

Foxconn is the world's largest maker of electronics for other brands.

It now expects sales for the first quarter to fall slightly from a year earlier.

The period is traditionally quieter than the fourth quarter, when it races to supply goods for the Western year-end holiday period.