Foxconn Plans to Increase Profit in the Second Quarter of 2024
Foxconn, a global leader in electronics manufacturing, announces plans to increase profit in the second quarter of 2024 after a decrease in the first quarter. According to the company, profit for March set a new record for this month, increasing by 11.8% to $13.96 billion. Despite the seasonal decrease in the first quarter, Foxconn plans for a consistent increase in profit in both the second quarter and the entire year.
Analysts forecast an 8% growth in profit in the second quarter compared to the previous year. However, the company will face challenges, including a decrease in demand for iPhones in China, which may affect its core business. Nevertheless, Foxconn hopes for profit growth in the server segment, particularly in the artificial intelligence systems direction, where a profit increase of up to 18% from the total amount is projected.
