Foxconn Sets New Revenue Records in Q4 2024
Foxconn, the global manufacturing giant, has shattered records in Q4 2024 with revenue totaling T$2.6028 trillion ($82.73 billion), marking a remarkable 22.07% increase compared to the same period the previous year. This milestone not only surpassed the projected T$2.418 trillion predicted by analysts but also exceeded Foxconn’s own expectations.
Cloud and AI Innovations Drive Growth
The significant growth was primarily fueled by Foxconn’s cloud and networking division, which saw a surge due to increasing demand for AI server production. As Nvidia’s main manufacturing partner, Foxconn played a crucial role in building the advanced hardware required for AI and hyperscale computing. With AI technologies rapidly transforming industries, the production of AI servers has emerged as Foxconn’s fastest-growing segment.
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iPhone Assembly Segment Faces Exchange Rate Challenges
While Foxconn’s overall performance soared, its smart consumer electronics segment—dominated by iPhone assembly for Apple—experienced a slight dip in revenue. This decline was attributed to unfavorable currency exchange rates rather than a drop in demand, highlighting the resilience of Foxconn’s partnerships with tech leaders such as Apple.
December 2024: A Strong Finish to the Year
December 2024 revenue alone reached T$862.86 billion, a significant 31.77% year-over-year increase. This performance represents the strongest monthly growth of the quarter and contributed significantly to Foxconn’s record-breaking results.
Expanding Operations: U.S. Growth in AI Server Manufacturing
In response to escalating demand, Foxconn is also expanding its AI server production capabilities in the U.S., with new facilities under development in Wisconsin and Texas. This strategic move signals the company’s commitment to scaling operations in high-demand markets and catering to the growing needs of its clients.
What’s Next for Foxconn in 2026?
Although management anticipates a slowdown in growth for the first quarter of 2026 due to challenging year-over-year comparisons, Foxconn’s leadership in AI server production positions the company for long-term success. Full earnings details are expected to be revealed in March 2026.
Investor Insights: A Promising Year
Foxconn shares rose by 25.3% in 2024, closely tracking the performance of Taiwan’s broader market. As investors look to capitalise on growth in AI, cloud computing, and consumer electronics, Foxconn remains a prominent player to watch.
