![]() The company, the world's largest contract electronics maker, wants to replicate the success it has had with Apple's iPhone with electric vehicles (EV).įoxconn, formally called Hon Hai Precision Industry Co Ltd, has acquired the former General Motor Co (GM.N) plant in Lordstown, Ohio, and has also hired a former Nissan (7201.T) executive, Jun Seki, to lead expansion efforts in EVs, where it hopes to become a major manufacturer. In the first quarter, Foxconn's cloud and network products segment, which includes servers, accounted for 22% of revenue, second only to smart consumer electronics - which includes smartphones - at 56%.įoxconn this month posted a 56% plunge in first-quarter net profit, lagging forecasts in its biggest quarterly fall in three years, and said visibility for the full year was "limited". The Taiwanese company has a 40% global market share for servers and aims to further increase that, Liu added. We expect that in the second half of this year there may be a three digit increase." "You can see the market for AI servers will rise much faster than expected. "More and more people are using ChatGPT," he said. ![]() TAIPEI, May 31 (Reuters) - Apple Inc (AAPL.O) supplier Foxconn (2317.TW) said on Wednesday artificial intelligence applications would strongly drive demand for its server business this year but reiterated 2023 overall would be a flat one for the company on global economic woes.įoxconn Chairman Liu Young-way told the company's annual shareholders meeting the firm remained cautious about this year due to monetary policy tightening, geopolitical tensions and uncertainty over inflation, but servers were a bright spot due to surging interest in AI.
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