Taiwan's Foxconn, the world's largest contract electronics maker, forecast strong revenue growth in the first quarter after reporting a surprise 13% drop in fourth-quarter profit. Foxconn, whose businesses include manufacturing iPhones for Apple and artificial intelligence servers for Nvidia,

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.

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, reported a 13% drop in fourth-quarter profit as weak performance in its consumer electronics division offset strength in its AI server segment business.