Foxconn Reports Profit Decline as iPhone Sales Slow but AI Server Growth Surges

The world's largest electronics manufacturer sees challenges in consumer electronics but benefits from booming demand for AI server technology.

Foxconn's Q4 2024 net income fell 13% year-over-year to NT$46.3 billion, missing analysts' expectations of NT$54.4 billion.
The decline is attributed to weaker iPhone sales, as Apple reported a surprise drop in holiday quarter revenue for its flagship device.
Despite challenges in consumer electronics, Foxconn's AI server business grew significantly, with revenue increasing by 150% year-over-year.
The company is constructing a $900 million AI server plant in Mexico, poised to become the largest facility powered by Nvidia GB200 chips.
Foxconn faces uncertainty due to escalating U.S. tariffs on goods from China and Mexico, impacting its global operations.