Taiwan’s Foxconn, the world’s largest contract electronics maker, posted its highest first-quarter revenue ever, driven by strong demand for artificial intelligence products. Revenue jumped 24.2% year-on-year to $49.5 billion.
Foxconn’s cloud and networking products division saw robust growth, while smart consumer electronics, including iPhones, experienced “flattish” year-on-year growth. The company will closely monitor global politics due to evolving conditions.