عربي English Türkçe اردو فارسى
Logo
Latest News
Technology

Taiwan Tech Giant Foxconn’s 2024 Profit Misses Forecasts 

The logo of Foxconn is on display during the Smart City Summit & Expo pre-event press conference in Taipei, Taiwan, 11 March 2025. (EPA)
The logo of Foxconn is on display during the Smart City Summit & Expo pre-event press conference in Taipei, Taiwan, 11 March 2025. (EPA)
TT
TT

Taiwan Tech Giant Foxconn’s 2024 Profit Misses Forecasts 

The logo of Foxconn is on display during the Smart City Summit & Expo pre-event press conference in Taipei, Taiwan, 11 March 2025. (EPA)
The logo of Foxconn is on display during the Smart City Summit & Expo pre-event press conference in Taipei, Taiwan, 11 March 2025. (EPA)

Taiwanese tech giant Foxconn reported on Friday a lower-than-expected net profit for 2024 as consumer electronic gadgets underperformed, although demand for its artificial intelligence servers remained robust.

The world's largest contract electronics manufacturer has been moving beyond assembling devices such as Apple's iPhones into areas ranging from electric vehicles to AI servers.

The company said full-year net profit rose seven percent to NT$152.7 billion (US$4.6 billion).

That compares with an average forecast of NT$159.4 billion, according to a Bloomberg News survey of analysts.

Full-year revenue rose 11 percent to NT$6.9 trillion, beating the market forecast of NT$6.8 trillion.

Foxconn, also known as Hon Hai Precision Industry, has been riding a wave of global demand for generative AI in recent years.

The company reported a "strong performance" in its AI server business, with revenue up 150 percent, according to documents released ahead of an earnings call with analysts.

This year would be the "Year of AI", the company said, with shipments increasing in every quarter.

The earnings announcement comes as US President Donald Trump imposed tariffs against major trading partners including China, Canada and Mexico, igniting trade wars and causing markets to fall.

While Foxconn has plants around the world, the bulk of its operations is based in China, which has been hit by 20 percent levies on products shipped to the United States.

Foxconn is building a mega-AI server plant in Mexico, which a local official told Bloomberg recently would be completed in a year despite Trump's tariff threats.

The $900 million assembly plant near Guadalajara will become the world's largest to be powered by Nvidia's GB200 AI chips, Jalisco Governor Pablo Lemus Navarro said.

Foxconn has also been in the spotlight over potential cooperation with Japanese automaker Nissan after its merger talks with rival Honda fell through in February.

Chairman Young Liu said previously that Foxconn was open to buying French auto giant Renault's stake in Nissan and was looking into a cooperation with Nissan, not a merger.

Foxconn has been looking to expand into the Japanese EV market and Liu said last month the company would announce "good news" in EVs within one or two months.

Most Viewed

 
 
Technology

AI-referred US Shoppers Browse Longer, Spend More per Visit, Data Shows

The ChatGPT logo is displayed on a mobile phone in Liverpool, Britain, 09 June 2026. (EPA)
The ChatGPT logo is displayed on a mobile phone in Liverpool, Britain, 09 June 2026. (EPA)
TT
TT

AI-referred US Shoppers Browse Longer, Spend More per Visit, Data Shows

The ChatGPT logo is displayed on a mobile phone in Liverpool, Britain, 09 June 2026. (EPA)
The ChatGPT logo is displayed on a mobile phone in Liverpool, Britain, 09 June 2026. (EPA)

US shoppers who use large language models, including Google's Gemini or OpenAI's ChatGPT, for purchase recommendations are lingering more on retailers' websites and are more likely to spend, according to May data from Adobe Analytics.

Consumers who are referred to retail websites from LLMs generated ‌53% more ‌revenue per visit than ‌shoppers ⁠from non-AI sources, the ⁠data firm said, emphasizing the need for brands to invest in AI-readable webpages.

Retailers whose products show up in LLM suggestions are able to "drive more personalization" to ⁠shoppers who leave the platforms to ‌complete their ‌purchases on the native websites, Vivek Pandya, ‌director of digital insights at ‌Adobe, said.

AI traffic to retail websites increased 138% in May from last year, the highest share of ‌total retail visits since Adobe Analytics began tracking in October 2024.

⁠Retail ⁠website visitors recommended by AI converted at a rate 54% higher than online shoppers from non-AI sources did in May.

Shoppers referred to e-commerce websites spent 53% more time on the sites than visitors from other sources.

AI-referred shoppers also visit more retail webpages than non-AI referred visitors.

Technology

SDAIA, World Bank Conclude Int’l Consultations on Data Governance and AI in Belgium and Germany

The program aimed to review leading international experiences in data governance, AI, and digital policy frameworks. SPA
The program aimed to review leading international experiences in data governance, AI, and digital policy frameworks. SPA
TT
TT

SDAIA, World Bank Conclude Int’l Consultations on Data Governance and AI in Belgium and Germany

The program aimed to review leading international experiences in data governance, AI, and digital policy frameworks. SPA
The program aimed to review leading international experiences in data governance, AI, and digital policy frameworks. SPA

The Saudi Data and Artificial Intelligence Authority (SDAIA), in partnership with the World Bank, has concluded an international program held from June 8 to 12 in Belgium and Germany.

The program aimed to review leading international experiences in data governance, artificial intelligence (AI), and digital policy frameworks. It also included consultations with experts in both countries to exchange knowledge and expertise.

During the program, participants reviewed the Kingdom's experience in building a national ecosystem for data and AI. They also highlighted achievements in data governance, digital policy, and regulatory frameworks, as well as Saudi efforts to promote the responsible use of advanced technologies.

The program included a series of meetings and specialized sessions in Brussels and Berlin involving European and international entities, government and non-profit organizations, and think tanks focused on digital policy and AI governance.

Discussions covered international cooperation in AI, regulatory frameworks, data governance and privacy, and cross-border challenges associated with emerging technologies. Participants also examined frameworks that support responsible innovation and digital transformation.

SDAIA and World Bank teams reviewed advanced practices in digital policy development and the design of regulatory frameworks for data and AI. They also discussed mechanisms for strengthening international cooperation and knowledge exchange to support the development of a sustainable national ecosystem for data and AI.

The program is part of SDAIA's efforts to strengthen international cooperation and build partnerships with leading global organizations and institutions. It also seeks to benefit from international expertise and best practices in support of the Kingdom's objectives to strengthen its global position in data and AI.

The initiative aligns with the goals of Saudi Vision 2030 and the Year of AI 2026 and supports efforts to transfer knowledge and expertise to the Kingdom.

Technology

SpaceX: Five Key Moments, from First Launch to Starship Megarocket

SpaceX employees celebrate the company's Wall Street debut, the largest initial public offering in US history. TIMOTHY A. CLARY / AFP
SpaceX employees celebrate the company's Wall Street debut, the largest initial public offering in US history. TIMOTHY A. CLARY / AFP
TT
TT

SpaceX: Five Key Moments, from First Launch to Starship Megarocket

SpaceX employees celebrate the company's Wall Street debut, the largest initial public offering in US history. TIMOTHY A. CLARY / AFP
SpaceX employees celebrate the company's Wall Street debut, the largest initial public offering in US history. TIMOTHY A. CLARY / AFP

More than 20 years after its founding, SpaceX made history Friday with its record-high stock market debut, crowning a unique journey marked by dazzling successes but also catastrophic failures and unfulfilled promises.

Here are five key moments in the company's history:

- 2008: The founding myth -

Six years after its founding, SpaceX launched its first rocket into orbit after multiple failures, taking off in September 2008 from a remote archipelago in the Pacific Ocean.

"I messed up the first three launches; the first three launches failed," co-founder Elon Musk recalled years later.

"Fortunately, the fourth launch -- that was the last money that we had -- the fourth launch worked, or that would have been it for SpaceX. But fate liked us that day."

- 2012: Next stop, ISS -

After the successful launch, SpaceX grew and developed more powerful launchers, including its flagship rocket, Falcon 9, which has become the most widely used rocket today.

Among its creations was the Dragon spacecraft, which docked as a cargo vessel at the International Space Station in 2012, a first by a private company.

Eight years later, the Dragon spacecraft carried its first astronaut to the ISS, beating other aerospace companies like Boeing to becoming the main American transport to the space station.

- 2018: A Tesla in space? -

At the same time, SpaceX in 2015 successfully landed the first stage of its Falcon 9 rocket, ushering in the age of partially reusable rockets.

This was followed by Falcon Heavy, a much more powerful launcher with two Falcon 9 boosters.

To mark its first test flight in 2018, Musk decided to place the car made by one of his other companies, a Tesla, on board.

The image of the red Tesla occupied by a mannequin dubbed Starman -- after David Bowie -- was seen around the world.

Not all SpaceX promises were kept though: that same year, Musk said he would send a group which included Japanese billionaire Yusaku Maezawa around the Moon by 2023, but that never came to pass.

- 2020-2023: Starbase's explosive beginning -

The tech trillionaire ended up prioritizing the development of his megarocket Starship, designed to travel to the Moon and, eventually, Mars.

To complete the project, he bought vast amounts of land in Texas and developed an industrial complex known as Starbase, where he would launch a series of Starship prototypes, most of which blew up into spectacular fireballs.

Musk justified the "rapid unscheduled disassembly" of these rockets, to use the entrepreneur's favorite euphemism for explosions, by saying they were part of the learning process.

- 2024: The unprecedented 'Super Heavy' catch -

In October 2024, SpaceX succeeded in recovering the first stage of Starship, its "Super Heavy" booster, in a unique maneuver that had never been achieved before.

After launching the spacecraft, the booster detached and began its descent, returning to the SpaceX launch pad where a pair of "chopsticks" reached out to catch the booster and bring it to a halt.

The feat, while impressive, is only the first part of SpaceX's plan to make Starship a fully reusable rocket -- a goal it remains in pursuit of while dealing with several technical challenges.