AI Doping Scandal Rocks iPhone Manufacturer

Taiwanese Tech Giant Foxconn Reports Increase in Net Profit

Taiwanese technology giant Foxconn, known for producing Apple’s iPhone phones in its factories in China, recently announced that its net profit had surged to 1.6 billion dollars in the last quarter of 2023.

According to a report by Hurriyet.com.tr’s Economy Service, Foxconn reported a second consecutive quarter of profit growth driven by the high demand for AI hardware and infrastructure. The company’s CEO, Young Liu, expressed satisfaction with the overall performance, stating that revenues for 2023 had reached 195 billion dollars, marking the second-highest revenue in the company’s history after 2022.

Foxconn, officially known as Hon Hai Precision Industry, is the world’s largest contract electronics manufacturer, responsible for assembling devices for various companies, including Apple. Despite a decline in iPhone sales in China, Foxconn saw an increase in revenues due to growing interest in artificial intelligence technology.

In a strategic move to diversify beyond electronics assembly, Foxconn has made significant investments in the AI technology market. Last October, the company announced plans to establish artificial intelligence factories in collaboration with US chip giant Nvidia. CEO Liu highlighted AI servers as a key growth driver for the company, emphasizing a focus on electric vehicles, semiconductors, and low-earth orbit satellites in the coming year.

With its strong financial performance and strategic investments in artificial intelligence, Foxconn is positioned to capitalize on the growing demand for advanced technology solutions in the global market.

 

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