52 billion dollars in sales

Automatically saved design

Apple supplier Foxconn earned more in the third quarter than ever before thanks to the boom in artificial intelligence (AI) technology. In the period from July to September, sales rose by 20.2 percent to the equivalent of around 52 billion dollars (1.85 trillion Taiwan dollars), the company announced on Saturday.

"The result exceeded the company's original expectations of significant growth," the statement said.

Foxconn benefits from the AI boom
The strong demand for AI servers led to a significant increase in sales in the cloud and network products division. Foxconn's customers also include the AI chip company Nvidia.

In the third quarter, Taiwan's technology companies traditionally start shipping smartphones, tablets and other electronic devices to major vendors such as Apple for the high-revenue Christmas season.

"Looking ahead to the peak season in the second half of the year, we expect our business to gradually gain momentum," said Foxconn on the outlook for the current quarter. The fourth quarter will be roughly in line with current market expectations. Foxconn did not provide any details.