Foxconn has outperformed expectations, revealing a Q4 2023 net profit of NT$53.1 billion ($1.7 billion). This 33% increase surpasses the anticipated NT$43.5 billion, reflecting strong financial health. The firm now sees over 40% revenue growth in 2024, with AI servers playing a pivotal role. The AI server market’s forecasted 30% annual growth until 2025 aligns with Foxconn’s aspirations. In Q4, consumer electronics, including smartphones, contributed 58% to revenue. Meanwhile, 20% stemmed from cloud and networking products, such as servers, showcasing diversification.
The Q4 revenue breakdown reveals a strategic pivot, with consumer electronics, including smartphones, contributing 58% to the revenue pie and 20% from cloud and networking products like servers. This diversified revenue stream underscores Foxconn’s adaptability and readiness to embrace emerging tech frontiers.
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