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☆ Apple supplier Foxconn's first-quarter profit jumps 72% but misses forecasts
▼ + stars: | 2024-05-14 | by ( ) www.cnbc.com time to read: +1 min

Apple supplier Foxconn reported a 72% rise in first-quarter profit, boosted by strong demand for AI servers and coming off a low base from the period a year earlier, but the growth was lower than expected. While the profit missed the T$29.31 billion forecast by analysts, it was Foxconn's third consecutive quarterly profit rise. In the first quarter, consumer electronics including smartphones accounted for 48% of its revenue while cloud and networking products, including servers, contributed 28%. Apple's quarterly results and forecast beat modest expectations this month, nd CEO Tim Cook said revenue growth would return in the current quarter. Foxconn's shares have risen 65% so far this year, driven by its rosy AI outlook, far outperforming a 17% gain for the broader market.

Persons: Foxconn, Tim Cook Organizations: Sharp Corp, Hai Precision Industry Co

☆ Apple CEO Tim Cook visits Vietnam — one of the iPhone giant's most important manufacturing hubs
▼ + stars: | 2024-04-15 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Cook will meet with Apple users, developers and content creators during the two-day visit, local media reported. In December, the Nikkei reported Apple was moving some of its key iPad engineering resources to Vietnam. Apple CEO Tim Cook (C) walks near Hoan Kiem lake in downtown Hanoi during his visit to Vietnam on April 15, 2024. India has also emerged as a key hub for iPhone manufacturing. Cook's visit to Vietnam comes after 61 environmental and human rights groups called on Apple to oppose the country's detention of climate activists.

Persons: Tim Cook, Cook, Bryan Ma Organizations: Apple, International Data Corporation, IDC, Samsung, Nikkei, Apple Watch, Getty, CNBC, Bloomberg Locations: Hanoi, Vietnam, U.S, China, Cupertino, Hoan, Giang Huy, Afp, India, iPhones

☆ Apple supplier Foxconn sees strong 2024 as Q4 beats forecasts
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: +2 min

The outlook has turned rosier since Foxconn Chairman Young Liu said in November the world's largest contract electronics maker had "relatively conservative and neutral" expectations for 2024. The profit beat a T$43.52 billion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate. In the fourth quarter, consumer electronics including smartphones accounted for 58% of revenue while cloud and networking products, including servers, contributed 20%. Foxconn said it expects revenue for the first quarter to slightly decline from a year earlier, with revenue for smart computer electronics also likely to drop in the period. Apple last month reported sales and profit that beat Wall Street estimates, powered by growth in its iPhone business though its China sales missed analysts' targets.

Persons: 20JUL16 SCMP, Nora Tam, Foxconn, Young Liu Organizations: South China Morning, Getty, Foxconn, Hai Precision Industry Co, Apple, Wall Locations: Foxconn, Longhua, Shenzhen, 20JUL16, South, China

☆ Foxconn raises Q4 outlook on strong year-end holiday sales
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

The logo of Foxconn is seen outside the company's building in Taipei, Taiwan November 10, 2022. REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Dec 5 (Reuters) - Taiwan's Foxconn (2317.TW), the world's largest contract electronics maker and a major Apple (AAPL.O) supplier, on Tuesday raised its outlook for the fourth quarter on strong year-end sales for the holiday peak season. The fourth quarter is traditionally the hot season for Taiwan's tech companies as they race to supply smartphones, tablets and other electronics to major vendors such as Apple for the year-end holiday period in Western markets. "Therefore, the outlook for the fourth quarter should be better than the original guidance for 'significant growth'", the company added, without elaborating. For components and other products, revenue in November showed strong year-on-year growth "due to increasing allocations in smart consumer electronics products and rising shipments in auto components", it added.

Persons: Ann Wang, Foxconn, Ben Blanchard, Sarah Wu, David Goodman Organizations: REUTERS, Rights, Apple, Hai Precision Industry Co, Revenue, Foxconn's, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, Zhengzhou, Foxconn's Taipei

☆ Here's the latest sign India will be a key growth market for Apple
▼ + stars: | 2023-11-28 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

AAPL YTD mountain Apple (AAPL) performance year-to-date Foxconn's China-based factories have been crucial for the production of iPhones and other Apple products likes MacBooks. Those issues, along with heightened U.S.-China tensions, prompted Apple — and suppliers like Foxconn — to expand into India. CEO Tim Cook has previously told CNBC that India presents a "huge opportunity" for Apple in terms of iPhone sales and manufacturing. And over the summer, Apple announced it had started production on the next-generation iPhone 15 in India. While China's economy remains under pressure post-pandemic, the Indian market offers significant growth opportunities for a company like Apple.

Persons: Apple, Apple —, Tim Cook, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim, Punit Paranjpe Organizations: Foxconn Technology, Apple, CNBC, Afp, Getty Locations: India, China, Mumbai, Punit

☆ Apple iPhone maker Foxconn to invest $1.5 billion in India as it looks to build beyond China
▼ + stars: | 2023-11-27 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

A factory at the mobile phone plant of Rising Stars Mobile India, a unit of Foxconn in Tamil Nadu, India, on July 12, 2019. Foxconn Technology will invest more than $1.5 billion in an Indian construction project to fulfill the Apple supplier's "operational needs," the company announced in Taiwanese security filings Monday. Foxconn is a major Apple supplier and has significant operations in mainland China. Those lockdowns, alongside general geopolitical tumult, have prompted Apple suppliers such as Foxconn to reassess their concentrated presence in China. Foxconn has already announced multiple projects inside India, including a $600 million project in Karnataka state and a $500 million factory in Telangana state.

Persons: Foxconn Organizations: Stars Mobile India, Foxconn Technology, Apple, Technology, Technology India Mega Development Locations: Tamil Nadu, India, Technology India, Maharashtra, China, Karnataka, Telangana

TAIPEI, Nov 24 (Reuters) - Terry Gou, the billionaire founder of tech giant Foxconn (2317.TW), on Friday withdrew from the race to be Taiwan's next president, bringing a sense of relief to the major Apple (AAPL.O) supplier and iPhone manufacturer, sources said. Complete the change of power and change Taiwan," Gou said. Despite a massive advertising campaign, which saw his face plastered across Taiwan, Gou consistently polled far behind his rivals. Although Gou stepped down as Foxconn chief in 2019 and resigned as a board member in early September, he remained the company's largest shareholder. "It's a sigh of relief," said one of the sources, who declined to be identified due to the sensitivity of the matter.

Persons: Terry Gou, Gou, Hou Yu, Ko Wen, Ko, Lai Ching, Foxconn, Young Liu, TPP, Tammy Lai, Lai, Yimou Lee, Ben Blanchard, Sarah Wu, Muralikumar Anantharaman, Gerry Doyle Organizations: Apple, Democratic Progressive Party, ih, Kuomintang, KMT, Taiwan People's Party, Facebook, Global Times, Reuters, Netflix, Thomson Locations: TAIPEI, Ukraine, Taiwan, China, Taipei, Beijing

☆ Terry Gou, the founder of iPhone maker Foxconn, drops out of Taiwan's presidential election race
▼ + stars: | 2023-11-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Foxconn founder Terry Gou has withdrawn from Taiwan's presidential race. AdvertisementTerry Gou, the founder of Foxconn – Apple's main manufacturer of iPhones – has dropped out of Taiwan's presidential race. Taiwan's presidential race is closely watched because China claims the self-ruled island — a semiconductor powerhouse — as its own territory. The more opposition candidates there are, the more these votes could be split against the ruling party to ensure Lai's win. Other presidential candidates in the island's presidential race are DPP's Lai, KMT's Hou Yu-ih, and former Taipei mayor Ko Wen-je from the Taiwan People's Party.

Persons: Terry Gou, Gou, —, Foxconn, –, William Lai, Xi Jinping, Lai, Beijing wouldn't, Tammy Lai, KMT's Hou Yu, Ko Wen Organizations: Service, Democratic Progressive Party, Nvidia, Kuomintang, ih, Taiwan People's Party Locations: China, Taiwan, Beijing, Taipei

☆ Foxconn's electric car unit falls in market debut amid tough industry outlook
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

A view of a Foxtron logo on a electric vehicle on display during the company's annual Tech Day in Taipei, Taiwan, October 18, 2022. REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Nov 20 (Reuters) - Shares in Foxtron Vehicle Technologies (2258.TW), a unit of Taiwanese contract manufacturer Foxconn (2317.TW), fell in their market debut on Monday, hurt by concerns over headwinds in the highly competitive electric vehicle market. Foxtron shares did recover some ground from earlier losses of as much as 9%, ending down 2.7% which gave it a market capitalisation of around $2.7 billion. Foxtron is a joint venture between Foxconn - the world's largest contract manufacturer for iPhones and other consumer electronics - and local car maker Yulon (2201.TW). Young Liu, chairman of both Foxtron and Foxconn, said, however, the company has a clear strategy for growth.

Persons: Ann Wang, Foxtron, Yulon . Young Liu, Liu, Foxconn, Terry Gou, Ben Blanchard, Faith Hung, Anne Marie Roantree, Navaratnam, Edwina Gibbs Organizations: Tech Day, REUTERS, Rights, Vehicle Technologies, Mega International Securities, Yulon, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, Foxconn, North America, Southeast Asia, China

☆ Apple supplier Foxconn books surprise rise in quarterly profit
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] People wear masks to protect themselves from the coronavirus disease (COVID-19) while passing a Foxconn office building in Taipei, Taiwan, July 14, 2020. REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Nov 14 (Reuters) - Apple Inc (AAPL.O) supplier Foxconn (2317.TW) reported on Tuesday a surprise 11% increase in third-quarter profit, boosted by strong demand for smartphones ahead of the year-end holiday shopping season in Western markets. Net profit for the July-September quarter rose to T$43.1 billion ($1.3 billion), beating market estimates for an 11% drop. Shares of Foxconn closed up 2.4% ahead of the earnings announcement, beating a 0.5% gain for the benchmark index (.TWII). ($1 = 32.3430 Taiwan dollars)Reporting by Yimou Lee and Sarah Wu; Editing by Anne Marie Roantree and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Ann Wang, Young Liu, Terry Gou, Yimou Lee, Sarah Wu, Anne Marie Roantree, Edwina Gibbs Organizations: REUTERS, Rights, Apple Inc, TW, Apple, Global Times, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, China

Terry Gou, the founder of Taiwan's Foxconn, makes a speech at Banqiao Cihui Temple in New Taipei City, Taiwan October 29, 2023. In a statement, Gou thanked his backers for their "enthusiastic support" and vowed to work hard to achieve "peace across the Taiwan Strait". While China's government has not confirmed the Foxconn investigation, Lai has assailed Beijing for targeting the firm. "Aren't we all waiting to see if Terry Gou will run until the end?" Foxconn says Gou no longer has anything to do with the company's day-to-day operations, though he remains its largest single shareholder.

Persons: Terry Gou, Taiwan's, Ann Wang, Gou, Lai Ching, Lai, detests Lai, Wellington Koo, Foxconn, Young Liu, Liu, Jeanny Kao, Yimou Lee, Ben Blanchard, Jacqueline Wong Organizations: REUTERS, Rights, Apple, Democratic Progressive Party, Taiwan's National Security Council, Thomson Locations: New Taipei City, Taiwan, Rights TAIPEI, Ukraine, China, Beijing

☆ Apple supplier Foxconn posts surprise 11% jump in third-quarter profit
▼ + stars: | 2023-11-14 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

Ceng Shou Yi | Nurphoto | Getty ImagesApple iPhone supplier Foxconn, officially known as Hon Hai, on Tuesday reported third-quarter profit rose 11.27% from a year ago, beating analysts' expectations despite an ongoing consumer electronics slump. Foxconn reported a NT$38.75 billion net profit in the same period a year ago. watch now"Volumes declined year-on-year largely due to slower than expected recovery in consumer demand. Research firm Canalys said last week that the global smartphone market is seeing a slowdown in its decline. The ongoing electronics slump has badly impacted the global smartphone market.

Persons: Hai Group's, Ceng Shou Yi, Hai, Foxconn, Canalys, Amber Liu, Liu Organizations: Getty, Apple, Hai Technology Group, Counterpoint Research, Research, Huawei Locations: Taipei, Taiwan, Mainland China

☆ Foxconn sticks to strong end-of-year sales outlook
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

A Foxconn shareholder poses for photos after the annual shareholder meeting in New Taipei City, Taiwan May 31, 2023. REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Nov 5 (Reuters) - Taiwan's Foxconn (2317.TW), the world's largest contract electronics maker and a major Apple supplier, on Sunday stuck to its previous outlook of strong year-end holiday sales, and said customers were buying well in China and the United States. Foxconn said in a statement that with the second half of the year a "traditional peak season" for consumer tech products, operations "will ramp up sequentially", sticking to its outlook given last month. "Significant growth outlook in the fourth quarter compared to the third quarter remains unchanged," it added, without elaborating. Foxconn releases third-quarter earnings on Nov. 14, when it will give more details on its outlook.

Persons: Ann Wang, Foxconn, Ben Blanchard, David Goodman, Christopher Cushing Organizations: REUTERS, Rights, Apple, Hai Precision Industry Co, Revenue, Thomson Locations: New Taipei City, Taiwan, Rights TAIPEI, China, United States, Taipei

☆ Amid Foxconn probe, China tells Taiwan firms to play positive role in ties
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +3 min

A Foxconn shareholder poses for photos after the annual shareholder meeting in New Taipei City, Taiwan May 31, 2023. REUTERS/Ann Wang Acquire Licensing RightsBEIJING, Oct 25 (Reuters) - Taiwanese companies should assume their social responsibilities and play a "positive role" in promoting the peaceful development of relations across the Taiwan Strait, China's government said on Wednesday, amid a probe into major Apple supplier Foxconn. "While sharing development benefits and growth dividends on the mainland and achieving rapid development, Taiwan enterprises should also assume corresponding social responsibilities and play a positive role in promoting the peaceful development of cross-Straits relations." China believes Lai, who is leading opinion polls, is a separatist bent on a formal declaration of independence. "As pointed out by the media on the island, Lai Ching-te has now changing from a Taiwan independence maniac to a Taiwan independence liar," she said.

Persons: Ann Wang, Zhu Fenglian, Zhu, Lai Ching, Democratic Progressive Party's, Lai, Ben Blanchard, Jacqueline Wong, Lincoln Organizations: REUTERS, Rights, Apple, Global Times, Taiwan Affairs Office, Taiwan, Democratic Progressive, Beijing, Thomson Locations: New Taipei City, Taiwan, Rights BEIJING, Taiwan Strait, China, Beijing

☆ Foxconn founder Terry Gou lies low in Taiwan election as China tax probe reverberates
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +6 min

[1/2] Terry Gou, founder of Taiwan's Foxconn poses for pictures while saluting during a news conference in Taoyuan, Taiwan April 5, 2023. But three months out from the election, Gou, whose net worth is estimated by Forbes at $6.7 billion, has gone to ground. China claims Taiwan as its own and believes Lai, who leads opinion polls, is a separatist bent on a formal declaration of independence. Since the Global Times report came out, Gou's team has declined to comment, referring questions to Foxconn itself. Gou remains a lauded figure at Foxconn after stepping down as chairman in 2019, referred to reverentially as "the founder".

Persons: Terry Gou, Taiwan's, Carlos Garcia Rawlins, Taiwan's Terry Gou, Gou, Lai Ching, Lai, Steve Jobs, Foxconn, Democratic Progressive Party's, reverentially, Xi Jinping, Ben Blanchard, Sonali Paul Organizations: REUTERS, Rights, Apple, Forbes, Global Times, Taiwan, Democratic Progressive, DPP, Taiwan People's Party, Hai Precision Industry Co Ltd, Chicago, Atari, Dell, Sony Corp, Nintendo Co, Microsoft Corp, Communists, Communist Party's, Thomson Locations: Taoyuan, Taiwan, Rights TAIPEI, China, Foxconn, Beijing, Kuomintang, People's Republic of China

☆ 'Steve Jobs' biographer Walter Isaacson says Apple will be the company 'most hurt' if economic tensions between US and China escalate
▼ + stars: | 2023-10-24 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

As some US companies cut back on their dependence on China, Apple could be hardest hit, says Steve Jobs' biographer. Walter Isaacson told "Squawk Box" that "it'll be hardest" for Apple to decrease reliance on China. AdvertisementAdvertisementAs more US companies are trying to cut back on relying on China for business, Apple could be the one hardest hit if economic tensions continue to escalate. "Most companies are trying to decrease their dependence on China, but it'll be the hardest for Apple to do that." More than 95% of iPhones, Macs, AirPods, and iPads are made in China, according to the Financial Times.

Persons: Steve Jobs, Walter Isaacson, Tim Cook, —, Elon Musk, CNBC's, Apple, Isaacson, it'll, we've, Wang Wentao, Terry Gou Organizations: Apple, Service, Tesla, Bloomberg, Counterpoint Research, YouTube, Wall Street, Financial Times Locations: China, Beijing, Chengdu, Taiwan

The logo of Foxconn is seen outside the company's building in Taipei, Taiwan November 10, 2022. Foxconn is facing a tax probe in China, two sources close to the company said on Monday, confirming a report in China's state-backed Global Times. China claims Taiwan as its own territory and Beijing detests Lai, whom it believes is a separatist. Speaking at a news conference in Taipei and asked about Beijing's probe into Foxconn, Lai said China should "cherish and treasure" Taiwanese companies given their help in that country's economic development. Taiwanese companies will lose their confidence in China and if they feel scared will shift production elsewhere, which will be a big loss to China, Lai added.

Persons: Ann Wang, Lai Ching, Terry Gou, Lai, Beijing detests Lai, Foxconn, Gou, Ben Blanchard, Jeanny Kao, Jacqueline Wong, Jamie Freed Organizations: REUTERS, Rights, Taiwan, Apple, Foxconn, Global Times, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, China, Beijing, China's, India, Taiwan Strait

☆ Foxconn shares drop after report of China tax audit, land use probe
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +3 min

A woman drives past the logo of Foxconn outside the company's building in Taipei, Taiwan November 9, 2022. The Global Times did not give details of the tax or land use probes, which have not been officially announced by any Chinese government department. The Chinese state media report comes less than three months before Taiwan votes in presidential and parliamentary elections. Speaking at a campaign rally on Sunday, Taiwan Vice President Lai Ching-te, the DPP's presidential candidate and leading the polls, said the Chinese report on the investigation was "unexpected" and "regretful". Foxconn shares were down 2.4% at 0204 GMT, underperforming the broader Taiwanese market (.TWII).

Persons: Ann Wang, Foxconn, Terry Gou, Taiwan's, Huang Shih, Gou, Lai Ching, Hai, Ben Blanchard, Jacqueline Wong, Edwina Gibbs, Sonali Paul Organizations: REUTERS, Rights, Global Times, Hai Precision Industry Co, Democratic Progressive Party, Taiwan, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, China, China's, Henan, Hubei, Zhengzhou, India, U.S

☆ China is a stormy place to do business right now after shock exec arrests and Foxconn probes
▼ + stars: | 2023-10-23 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

That follows shock arrests and allegations of bribery at the Shanghai offices of US agency GroupM. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementChilling effectThe probes and arrests are likely to further chill foreign business activity in China. Outwardly, China's leaders have emphasized the country is open to foreign investment. "Both Chinese investment overseas and foreign investment in China have boosted friendship, cooperation, confidence, and hope," said Chinese Premier Xi Jinping earlier this month at a summit on the country's Belt and Road infrastructure initiative.

Persons: —, Foxconn, Bain, Mintz, Steve Tsang, it's, Xi, Dan Harris, Terry Gou, Gou, Tim Cook, Cook, Wang Wentao, Apple, GroupM Organizations: Apple, Foxconn, GroupM, Service, WPP, Financial Times, FBI, SOAS China Institute, New York Times, Chinese Communist Party, Huawei Locations: China, Shanghai, Taiwan, Beijing, New York, Seattle

☆ Foxconn faces tax audit, land use probe, Chinese state media reports
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +1 min

A woman drives past the logo of Foxconn outside the company's building in Taipei, Taiwan November 9, 2022. REUTERS/Ann Wang/File Photo Acquire Licensing RightsBEIJING, Oct 22 (Reuters) - Taiwan's Foxconn (2317.TW), the largest supplier of Apple (AAPL.O) iPhones, is the subject of tax audits in China at some of its key subsidiaries, suspected of violating laws and regulations, Chinese state media reported on Sunday. China's natural resources department also conducted on-site investigations on the land use of Foxconn enterprises in Henan and Hubei provinces and elsewhere, the nationalist tabloid the Global Times reported. Zhang Wensheng, deputy dean of the Taiwan Research Institute of Xiamen University, told the Global Times the audit and land use investigations was a normal procedure that would apply to any enterprise suspected of violating laws and regulations. Reporting by Ethan Wang and Bernard Orr; Editing by Lincoln Feast and William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Ann Wang, Foxconn, Zhang Wensheng, Zhang, Ethan Wang, Bernard Orr, Lincoln, William Mallard Organizations: REUTERS, Rights, Apple, Global Times, Hai Technology, Taiwan Research Institute, Xiamen University, Thomson Locations: Taipei, Taiwan, Rights BEIJING, China, Henan, Hubei

☆ Foxconn faces tax audit, land use probe - Chinese state media
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +1 min

A woman drives past the logo of Foxconn outside the company's building in Taipei, Taiwan November 9, 2022. REUTERS/Ann Wang/File Photo Acquire Licensing RightsBEIJING, Oct 22 (Reuters) - Foxconn Technology Group (2317.TW), Apple Inc's (AAPL.O) largest supplier of iPhones, has been subjected to tax audits at some of its key subsidiaries, suspected of violating laws and regulations, Chinese state media reported on Sunday. China's natural resources department also conducted on-site investigations on the land use of enterprises of Foxconn in Henan, Hubei provinces and other places, according to the exclusive report in the nationalist tabloid, the Global Times. It did not elaborate on the investigations or the timing of them. Foxconn did not immediately respond for comment outside of regular business hours.

Persons: Ann Wang, Foxconn, Zhang Wensheng, Zhang, Ethan Wang, Bernard Orr, Lincoln Organizations: REUTERS, Rights, Foxconn Technology, Apple, Global Times, Taiwan Research Institute, Xiamen University, Thomson Locations: Taipei, Taiwan, Rights BEIJING, Foxconn, Henan, Hubei

Sharing a stage at Foxconn's annual tech showcase in Taipei, Foxconn Chairman Liu Young-way and Nvidia CEO Jensen Huang said their companies would build these "AI factories" together. And the data centres that produce it are AI factories," Huang said, adding that Foxconn had the expertise and scale to build them globally. Showing a hand-drawn sketch, Huang - sporting his signature black leather jacket - explained how "AI factories" could continuously receive and process data from autonomous electric vehicles to make them smarter. The AI factory would improve the software and update the entire AI fleet," said the Taiwan-born Huang. "In the future, every company, every industry, will have AI factories."

Persons: Foxconn, Liu Young, Jensen Huang, Huang, Orin, Liu, Jun Seki, Terry Gou, Sarah Wu, Ben Blanchard, Christian Schmollinger, Jamie Freed Organizations: Nvidia, EV, Foxconn's Tech, Thomson Locations: TAIPEI, Taipei, Taiwan, China, Foxconn, India, Japan

Sharing a stage at Foxconn's annual Tech Day in Taipei, Foxconn Chairman Liu Young-way and Nvidia CEO Jensen Huang said their companies were building AI factories together. Huang showed a hand-drawn sketch of what the two companies are building, which he called an "AI factory". What Nvidia and Foxconn are building is an entire end-to-end AI system for autonomous electric vehicles, with the AI factory developing the car's software, Huang added. The data would go to the AI factory, the AI factory would improve the software and update the entire AI fleet," he said. "This entire end-to-end system, on the one hand AI factory, on the other end EV fleet, is what Nvidia and Foxconn are building."

Persons: Liu Young, Ann Wang, Foxconn, Jensen Huang, Huang, Liu, Sarah Wu, Ben Blanchard, Christian Schmollinger, Jamie Freed Organizations: Tech Day, REUTERS, Rights, Nvidia, Thomson Locations: Taipei, Taiwan, Rights TAIPEI

☆ Apple supplier Foxconn says it's 'way too late' to chase dominance in cutting-edge chips
▼ + stars: | 2023-10-18 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

watch nowApple iPhone supplier Foxconn , officially known as Hon Hai, said its semiconductor strategy is to focus on producing "specialty chips" — not competing in cutting-edge chips. We focus more on specialty technology," Chiang Shang-Yi, chief strategy officer for semiconductor at Hon Hai Technology Group, told CNBC's Emily Tan on Tuesday. Specialty chips are known as semiconductors found in sectors such as automotive and internet of things. And we call it specialty technology – that is not late at all," said Chiang. Chiang Shang-Yi Chief strategy officer for semiconductor"Sometimes we may have to build their cars by their drawings.

Persons: Hai, Chiang Shang, Yi, Emily Tan, Taiwan's, Chiang, Jun Seki, Hai's, Foxconn, Foxtron, – Tesla, Volkswagen –, Young Liu, Liu Organizations: Apple, Hai Technology Group, Samsung, Hai Technology, Yulon, Reuters, CNBC, Volkswagen, Research, Vedanta Locations: South, Foxconn, China, Europe, U.S, India, Karnataka, Beijing, Washington

☆ Taiwan’s Foxconn to build ‘AI factories’ with Nvidia
▼ + stars: | 2023-10-18 | by ( Eric Cheung | ) edition.cnn.com time to read: +5 min

Taipei CNN —Taiwan’s Foxconn says it plans to build artificial intelligence (AI) data factories with technology from American chip giant Nvidia, as the electronics maker ramps up efforts to become a major global player in electric car manufacturing. Foxconn Chairman Young Liu and Nvidia CEO Jensen Huang jointly announced the plans on Wednesday in Taipei. The duo said the new facilities using Nvidia’s chips and software will enable Foxconn to better utilize AI in its electric vehicles (EV). Nearly 14 million electric cars will be sold in 2023, it projected. REUTERS/Ann Wang Ann Wang/ReutersDuring last year’s tech day, Liu told reporters that the company hoped to build 5% of the world’s electric cars by 2025.

Persons: Taipei CNN — Taiwan’s Foxconn, Young Liu, Jensen Huang, ” Huang, “, ” Liu, Foxconn, ”, Kylie Huang, Ann Wang Ann Wang, Liu, Chiang Shang, TSMC, Jun Seki, Bill Russo, Automobility, Tesla, ‘ I’m, ’, ” Hanna Ziady Organizations: Taipei CNN, Nvidia, Foxconn, Global, International Energy Agency, Hai Technology Group, Daiwa, Tech, REUTERS, Reuters, Lordstown Motors, General Motors, EV, Nissan Motor, Infineon Technologies Locations: Taipei, Taiwan, Kaohsiung, EVs, Ohio, Chiang, German, Shanghai

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