The boom in artificial intelligence has helped Apple supplier Foxconn earn more from manufacturing servers than smartphones for the first time, a milestone in its efforts to reduce its dependency on the low-margin business of assembling iPhones.
Cloud and networking products accounted for 41 per cent of revenue in the second quarter, surpassing smart consumer products with 35 per cent, the company said Thursday.
Foxconn is the world’s largest contract electronics manufacturer, producing a wide range of components and finished products including computers, industrial robots and electric vehicles for branded vendors.
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