Apple supplier Foxconn has said that demand for servers will be driven by artificial intelligence (AI) applications this year. The Taiwanese company, which is the world’s largest contract electronics maker, has a 40% global market share for servers and hopes to further increase that. On the other hand, it also reiterated that the year 2023 overall would be flat for the business due to monetary policy tightening, global economic woes, inflation uncertainty and geopolitical tensions, said Foxconn Chairman Liu Young-way. In Q1, Foxconn’s cloud and network products segment, which includes servers, accounted for 22% of revenue, second only to smart consumer electronics, including smartphones at 56%. The company has also acquired the former General Motor Co plant in Lordstown, Ohio, and has hired former Nissan executive, Jun Seki, to lead expansion efforts in electric vehicles, where it hopes to become a major manufacturer. Foxconn, which assembles around 70% of iPhones, is diversifying production away from China. Liu said China, including its massive iPhone plant in China’s Zhengzhou, remains an important location for Foxconn, and the company is planning to keep developing there.

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