Taiwan’s Foxconn sees ‘slightly better’ 2024, warns on AI chip shortage

Taiwan’s Foxconn, Apple’s biggest iPhone assembler and the world’s largest contract electronics maker, expects its business this year to be “slightly better” than last year but is facing a shortage of chips for AI servers.

“We did pretty well last year, although we had a rather large write off in the first quarter,” Foxconn Chairman Liu Young-way said on Sunday, referring to a writedown related to its 34% stake in Japanese electronics maker Sharp Corp.

“As for this year’s outlook, I think it might be slightly better than last year,” Liu told reporters on the sidelines of the company’s annual employee party in Taipei.