“We did fairly nicely final 12 months, though we had a quite giant write off within the first quarter,” Foxconn Chairman Liu Younger-way stated on Sunday, referring to a writedown associated to its 34% stake in Japanese electronics maker Sharp Corp.
“As for this 12 months’s outlook, I believe it is perhaps barely higher than final 12 months,” Liu advised reporters on the sidelines of the corporate’s annual worker celebration in Taipei.
Foxconn in November stated it had a “comparatively conservative and impartial” outlook for 2024.
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Demand for synthetic intelligence (AI) servers will “in fact” be good, however international financial uncertainty given geopolitical issues will have an effect on client product demand, he added.
“One (market phase) will likely be good, however very many others – uh-oh.”
Apple, on Thursday, forecasted a drop in iPhone gross sales and focused total income of $6 billion beneath Wall Avenue expectations as its China enterprise took successful.
The outcomes confirmed some analysts’ considerations that the corporate’s signature product is dropping floor in the important thing Asian market the place shoppers are shopping for foldable telephones and telephones from Huawei, powered by a China-made chip.
Liu stated manufacturing capability for chips for servers is restricted, even with sturdy demand.
“When it comes as much as maintaining with demand, maybe there must be new factories,” he added.
Foxconn, formally referred to as Hon Hai Precision Business Co Ltd, will report fourth-quarter earnings subsequent month when it would additionally replace its outlook for this 12 months. It releases January gross sales information on Monday.
Foxconn’s shares have slid 2.4 per cent up to now this 12 months, in contrast with a 0.7 per cent achieve for the broader market.
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