As Apple’s lead iPhone assembler, contract manufacturing company Foxconn long made more than half of its revenue from the Cupertino company.
Performance and Data
However, the proportion of the revenue made from this work has fallen below 29% within the most recent quarter. Its cloud and networking division, the one that builds AI servers, made up 51% of revenue in the three months to June. Smart consumer electronics, the division that contains the iPhone, came to 29%.
Foxconn has remained the company’s primary assembly partner While Apple has been working hard to diversify iPhone production beyond China’s borders. Foxconn crossed a line this quarter that it will not cross back. That is the first time the segment has passed half. Fellow Apple supplier TSMC is also experiencing rapid growth in the AI field.
