Contract manufacturer Foxconn turned in record sales in Q3 despite smart consumer electronics product revenue remaining flat year-on-year, as demand for AI servers and components for the automotive sector soared.

Revenue increased 20.2 per cent to TWD1.8 trillion ($55.9 billion), driven by growth in products related to cloud and networking, components and computing.

In a statement, Foxconn noted growth exceeded expectation and, as it enters a peak season, anticipates operations would “gradually gain momentum”.

Foxconn is a key supplier for Apple and noted sales of devices in the smart consumer category, which includes smartphones benefitted from new product launches.

For the first nine months of the year, revenue rose 9.7 per cent to TWD4.7 trillion, with sales in September up 33.7 per cent compared with August to TWD733 billion, the fastest sequential increase in 2024.

The company has rebounded since revenue in Q1 dropped 9.6 per cent to TWD1.3 trillion.