Apple supplier Foxconn gives conservative outlook for 2024

Key iPhone assembler to invest in China, India, Mexico, Vietnam and U.S. next year

20231114 The logo of Foxconn

Foxconn, the main contract supplier for Apple, expects to see around 5% growth next year in the absence of further international volatility.  © Reuters

LAULY LI, Nikkei Asia tech correspondent

TAIPEI -- Foxconn, the world's largest contract electronics manufacturer, has adopted a cautious outlook for 2024, predicting revenue growth of less than 5% amid intense geopolitical uncertainty.

"If there aren't any political or macroelectronics changes, the markets will probably grow and we will see around 5% growth," Foxconn Chairman Young Liu said in an earnings call on Tuesday. "But such growth will easily be offset by geopolitical dynamics."

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