Foxconn’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
Hon Hai’s server manufacturing arm has expanded alongside the boom in demand for the Nvidia chips that drive AI development. However, it still derives most of its revenue from iPhones, and Apple reported a surprise decline in sales of its flagship device during the holiday quarter.
Hon Hai, which ships electronics to the rest of the world from giant production bases in China, is also grappling with uncertainty surrounding US tariffs in 2025.
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