<ul><li>Taiwanese contract tech assembler Foxconn, missed profit estimates for the fourth quarter of last year amidst sagging iPhone sales and investment in AI servers.</li><li>Net revenues for the fourth quarter fell 13 percent to 46.3 billion Taiwanese dollars ($1.4 billion, £1.09bn) compared to analysts' estimates of a 2.3 percent gain.</li><li>Foxconn's strong revenue growth is expected in the first quarter, despite a slowdown in iPhone sales and caution from many companies amidst the US-initiated trade war.</li><li>Foxconn plans to increase production of AI servers as demand remains strong, with expected revenue growth in the first quarter due to consumer electronics, cloud, and networking products.</li></ul>

Foxconn Misses Profit Expectations After iPhone Sales Drop

Discover more