Foxconn, the leading electronics contract manufacturer, reported a 13% drop in net profit for Q4 2024, amounting to 46.33 billion Taiwan dollars, which was below analyst expectations. Despite this decline, Foxconn forecasts a significant increase in consumer electronics sales for Q1 2025. The backdrop includes challenges from an escalating global trade war impacting operations in China and Mexico. Additionally, Foxconn is venturing into AI with its new initiative, FoxBrain, developed in collaboration with Nvidia, further diversifying its product offerings and strengthening supply chains.
Foxconn experienced a 13% profit drop in Q4 2024, but forecasts strong sales growth in Q1 2025 driven by consumer electronics.
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