Taiwan's Foxconn,the world's largest contract electronics maker, said on Friday that solid demand from its tech clients would drive strong revenue growth in the first quarter. The upbeat forecast contrasts with a cautious note struck by many other businesses,

Taiwanese tech giant Foxconn reported on Friday a lower-than-expected net profit for 2024 as consumer electronic gadgets underperformed, although demand for its artificial intelligence servers remained robust.

Foxconn Technology Group reported weaker-than-expected quarterly results as the world’s largest contract electronics maker continued moving into growth areas such as artificial intelligence and electric vehicles.

Taiwan's Foxconn, the world's largest contract electronics maker, reported a 13% drop in fourth-quarter profit as weak performance in its consumer electronics division offset strength in its AI server segment business.

Taiwan's Foxconn, the world's largest contract electronics maker, is expected to report on Friday that fourth-quarter profit rose 2.35% on strong demand for artificial intelligence servers. Net profit for October-December for Apple's top iPhone assembler and Nvidia's AI server maker likely came in at T$54.