Foxconn, the world’s largest contract electronics manufacturer and Apple’s top iPhone assembler, reported record third-quarter sales of $57.3 billion, driven by rising demand for artificial intelligence (AI) servers and cloud infrastructure. This marks a 20.2% year-over-year growth, which above analyst estimates. This growth was driven mostly by the company’s cloud and networking solutions, as well as significant orders for AI servers from clients such as Nvidia.
Despite a largely flat performance in the consumer electronics industry, Foxconn’s smart electronics division, which includes iPhones, reported strong sales. The company’s September revenue alone increased 10.9% year on year, paving the way for strong momentum as the year-end shopping season approaches. Foxconn plans to reveal its full third-quarter profits on November 14, and its annual Tech Day is set for October 8-9, where it will most likely unveil new products or partnerships.
While the AI sector is flourishing, Foxconn’s smart consumer electronics division—best known for making iPhones and other Apple products—showed essentially flat growth year on year. Nonetheless, the firm profited from new product introductions and the start of the year-end holiday shopping season, which typically generates increased demand for devices such as smartphones and tablets.
Foxconn’s revenue reached T$733 billion in September alone, representing a 10.9% rise over the previous year. This good performance comes as the company prepares for the fourth quarter, which is traditionally a busy season owing to holiday buying in Western markets. Foxconn remains optimistic that this trend will continue into the fourth quarter, reaching or exceeding market forecasts.
Looking ahead, Foxconn expects to continue its rising path, particularly given the growing need for AI. During its annual Tech Day on October 8-9, the company aims to reveal more information about upcoming technologies and partnerships. Full Q3 earnings are likely to be disclosed on November 14, offering additional information on the company’s performance and forecast.
In an increasingly AI-dominated technology market, Foxconn’s ability to adapt and provide the necessary infrastructure has proven to be a winning strategy. As AI usage accelerates across industries, Foxconn’s presence in this market may ensure ongoing development well into the future.
