US EditionTaiwan tech giant Foxconn's 2024 profit misses forecasts
- Foxconn, a Taiwanese tech giant, reported a 13 percent fall in net income to NT$46.3 billion, missing analyst forecasts that estimated a 2.3 percent gain to NT$54.4 billion.
- Despite the profit drop, Foxconn's revenue from AI servers rose significantly by 150 percent, with full-year revenue rising 11 percent to NT$6.9 trillion, surpassing the market forecast of NT$6.8 trillion.
- Foxconn is expanding its operations with a new mega-AI server plant in Mexico, expected to be completed in a year, despite US tariffs impacting its production costs in China.
- The company aims to enter the Japanese EV market and is considering buying a stake in Renault's Nissan, aiming to announce developments soon.
34 Articles
34 Articles
Taiwan tech giant Foxconn’s 2024 profit misses forecasts
Taiwanese tech giant Foxconn reported on Friday a lower-than-expected net profit for 2024 as consumer electronic gadgets underperformed, although demand for its artificial intelligence servers remained robust. The world's largest contract electronics manufacturer has been moving beyond assembling devices such as Apple's iPhones into areas ranging from electric vehicles to AI servers. The company said
South China Morning Post
EMEA Tribune, Breaking News, World News, Latest News, Top HeadlinesFoxconn’s profits drop as iPhone sales falter, but AI boom offers hope
The Taiwanese company reported a 13 per cent fall in net income, worse than analysts’ estimates for a 2 per cent gain.
TechXplore
Taiwan tech giant Foxconn's 2024 profit misses forecasts
Taiwanese tech giant Foxconn reported on Friday a lower-than-expected net profit for 2024 as consumer electronic gadgets underperformed, although demand for its artificial intelligence servers remained robust.
Coverage Details
Bias Distribution
- 50% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
