Foxconn suffered a surprise drop in profit in the final quarter of 2024, with soft iPhones sales in China offsetting demand for AI servers.

Net profit dropped 13 per cent year-on-year to TWD46.2 billion ($1.4 billion).

In its earnings release, chair Liu Young forecast AI server sales to double in the current quarter and top TWD1 trillion for the full year, accounting for more than half of the company’s total server sales.

“A 40 per cent market share is our most conservative target.”

The company stated smart consumer electronics sales fell, while its cloud and networking; computing; components and others divisions achieved strong growth.

For 2025, it expects revenue in the consumer division to be flat and computing sales to fall, with growth in the other two groups.

In early January, the company reported record Q4 sales of TWD2.1 billion, up 15.2 per cent and forecast significant growth in the current quarter.

Sales in February rose 56 per cent and in January 3.2 per cent.