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.

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,

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.