Foxconn reports 46% revenue growth as electronics and server demand rises
Separately, Bloomberg Intelligence forecasts 16 million iPhone Duo sales in the first 12 months.
Foxconn announced that revenue rose 46% from a year earlier, citing demand for servers and consumer electronics. The company is Apple's largest contract manufacturer for iPhones, but its business has expanded beyond manufacturing devices for Apple.
Consumer electronics accounts for some 29% of Foxconn's revenue, with Apple the division's biggest customer. Apple no longer provides the majority of Foxconn's revenue, following the manufacturer's expansion into servers used in AI data centers and cloud storage.
In a separate forecast, Bloomberg Intelligence projected that iPhone Duo sales could reach 16 million units during the first 12 months. Apple reportedly raised its first-year target from 9.7M units to 14M after strong demand.
Bloomberg said a difficult economic environment was reducing global smartphone demand. It expects premium devices such as the Duo to play a growing role in Apple's revenue and profit.
