Foxconn ended 2024 by recording its fastest monthly revenue gains for the year in December as well as record sales in Q4, and forecast significant growth in the current quarter.

Sales in the final month of 2024 jumped 42.3 per cent year-on-year to TWD654.8 billion ($19.9 billion), marking its second-highest figure for the month ever, while Q4 revenue was up 15.2 per cent to TWD2.1 trillion.

The contract manufacturer and iPhone assembler noted the revenue gains were driven by strong demand for AI servers, with a strong performance across all of its product groups except smart consumer electronics, which remained flattish.

Revenue for the full year improved 11.4 per cent to TWD6.86 trillion, also a record for the company.

Omdia last month forecast Foxconn’s ODM direct business would top its global server market analysis in 2024, overtaking Dell.

Manoj Sukumaran, senior principal analyst at Omdia, noted Foxconn “has more growth ahead”, after it secured a partnership with Nvidia to make it Blackwell GPU reference designs.

TrendForce predicts the value of the AI server segment will jump from about $205 billion last year to $298 billion in 2025, with growth to significantly outpace that of standard servers. AI servers are forecast to account for more than 70 per cent of the value of the entire server market this year.