Foxconn, the world's largest contract electronics manufacturer based in Taiwan, reported record first-quarter revenue on strong demand for its artificial intelligence (AI) products, but warned of potential risks from the global political and economic situation.
Foxconn reported first-quarter revenue of NT$1.64 trillion ($49.5 billion), up 24.2 percent from a year earlier, the company said on April 5. The growth was only slightly lower than the NT$1.68 trillion forecast from LSEG SmartEstimate, a forecasting system that prioritizes highly accurate analysts.
Foxconn said the surge in growth came mainly from its cloud and network products business, which is being driven by strong demand for AI, especially from major customers like AI chipmaker Nvidia.
Meanwhile, the smart consumer electronics segment, including the iPhone - Apple's flagship product, recorded stable growth compared to the previous year.
Foxconn's March revenue alone reached NT$552.1 billion, up 23.4% year-on-year, marking a record high in the company's March history, the report also said.
Foxconn forecasts that its revenue in the second quarter will continue to grow both quarter-over-quarter and year-over-year. However, the company said it is closely monitoring the impact of global political and economic turmoil related to the US's recent imposition of an additional 34% tariff on Chinese goods, bringing the total new tariffs this year to 54%. Notably, the city of Zhengzhou (China) - home to Foxconn's world-largest iPhone factory - could be affected.
President Trump also imposed a 32% tariff on goods from Taiwan, although much of Foxconn's manufacturing has now been moved overseas, to reduce supply chain risks.
Foxconn shares surged 76% last year, far outpacing the 28.5% gain of the broader Taiwan stock market. However, they have fallen 17% so far this year, reflecting concerns in the tech market over the Trump administration’s volatile trade policies./.
Source: https://www.vietnamplus.vn/foxconn-just-announced-revenue-recorded-revenue-in-quy-12025-post1024993.vnp
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