Company Reports

Apple, which has established itself as a consumer electronics behemoth over the past decade, has propelled Hon Hai into the world’s largest contract manufacturer. Despite its entrenched position in Apple, which accounts for around 50% of the group’s revenue, Hon Hai was faced with increasing competition in the traditional assembly business at a time when smartphone demand had matured. As a result, its returns on invested capital fell to 11% in 2023 from 23% in 2016 but AI server demand has seen these returns rebound to 16% in 2025.

Hon Hai's second-quarter results showed continued strong growth from artificial intelligence servers, with revenue up 41% and operating profit up 68%. Increased working capital requirements for the first half resulted in an operating cash outflow of TWD 69 billion.

Apple, which has established itself as a consumer electronics behemoth over the past decade, has propelled Hon Hai into the world’s largest contract manufacturer. Despite its entrenched position in Apple, which accounts for around 50% of the group’s revenue, Hon Hai was faced with increasing competition in the traditional assembly business at a time when smartphone demand had matured. As a result, its returns on invested capital fell to 11% in 2023 from 23% in 2016 but AI server demand has seen these returns rebound to 16% in 2025.

Hon Hai's first-quarter results showed continued strong growth from artificial intelligence servers, with revenue up 29% and operating profit up 63%. Constant-currency revenue grew by 35%.

Apple, which has established itself as a consumer electronics behemoth over the past decade, has propelled Hon Hai into the world’s largest contract manufacturer. Despite its entrenched position in Apple, which accounts for around 50% of the group’s revenue, Hon Hai was faced with increasing competition in the traditional assembly business at a time when smartphone demand had matured. As a result, its returns on invested capital fell to 11% in 2023 from 23% in 2016 but AI server demand has seen these returns rebound to 16% in 2025.

Apple, which has established itself as a consumer electronics behemoth over the past decade, has propelled Hon Hai into the world’s largest contract manufacturer. Despite its entrenched position in Apple, which accounts for around 50% of the group’s revenue, Hon Hai is faced with increasing competition in the traditional assembly business at a time when smartphone demand has matured. As a result, its returns on invested capital fell to 11% in 2023 from 23% in 2016 but AI server demand has seen these returns rebound to 16% in 2025.

Hon Hai's fourth-quarter result showed continued strong growth from artificial intelligence servers, with revenue up 22% and operating profit up 33%. Constant-currency revenue grew 26%. The dividend increased by 24% to TWD 7.20.

Apple, which has established itself as a consumer electronics behemoth over the past decade, has propelled Hon Hai into the world’s largest contract manufacturer. Despite its entrenched position in Apple, which accounts for around 55% of the group’s revenue, Hon Hai is faced with increasing competition in the traditional assembly business at a time when smartphone demand has matured. As a result, its returns on invested capital fell to 11% in 2023 from 23% in 2016.

Hon Hai's third-quarter result showed continued strong growth from AI servers, with revenue up 11% and operating profit up 28%. Constant-currency revenue grew 18%. Management expects "significant" growth in the fourth quarter, and the initial outlook for 2026 is "very positive."

Hon Hai's second-quarter result showed continued strong growth from artificial intelligence servers, with consolidated revenue up 16% and operating profit up 27%. Management guidance still includes significant growth for third-quarter and full-year 2025.

Apple, which has established itself as a consumer electronics behemoth over the past decade, has propelled Hon Hai into the world’s largest contract manufacturer. Despite its entrenched position in Apple, which accounts for around 55% of the group’s revenue, Hon Hai is faced with increasing competition in the traditional assembly business at a time when smartphone demand has matured. As a result, its returns on invested capital fell to 11% in 2023 from 23% in 2016.

Hon Hai's first quarter showed continued very strong growth from artificial intelligence servers, with revenue up 24% and operating profit up 27%. Despite economic uncertainties, management guides for "significant growth" for both the second quarter and full year of 2025.

Apple, which has established itself as a consumer electronics behemoth over the past decade, has propelled Hon Hai into the world’s largest contract manufacturer. Despite its entrenched position in Apple, which accounts for around 55% of the group’s revenue, Hon Hai is faced with increasing competition in the traditional assembly business at a time when smartphone demand has matured. As a result, its returns on invested capital fell to 11% in 2023 from 23% in 2016.

Apple, which has established itself as a consumer electronics behemoth over the past decade, has propelled Hon Hai into the world’s largest contract manufacturer. Despite its entrenched position in Apple, which accounts for around 55% of the group’s revenue, Hon Hai is faced with increasing competition in the traditional assembly business at a time when smartphone demand has matured. As a result, its returns on invested capital fell to 11% in 2023 from 23% in 2016.

Hon Hai's fourth quarter showed continued very strong growth from artificial intelligence servers, with revenue up 15% and operating profit up 32%. Full-year revenue rose 11%, with operating profit up 20%.

Hon Hai's third-quarter result showed continued very strong growth from artificial intelligence servers, with revenue up 20% and operating profit up 19% year over year. Management commentary pointed toward this AI-driven growth continuing in 2025 and likely beyond.

Apple, which has established itself as a consumer electronics behemoth over the past decade, has propelled Hon Hai into the world’s largest contract manufacturer. Despite its entrenched position in Apple, which accounts for around 55% of the group’s revenue, Hon Hai is faced with increasing competition in the traditional assembly business at a time when smartphone demand has matured. As a result, its returns on invested capital fell to 11% in 2023 from 23% in 2016.

Hon Hai’s second-quarter 2024 result was stronger than expected and the outlook was better than expected, driven by strong artificial intelligence-related demand for Foxconn Industrial Internet, or FII, servers that are used by corporates and in data centers. AI server revenue grew nearly 300% year on year in the second quarter after increasing nearly 200% year on year in the first quarter. Second-quarter consolidated revenue and gross profit increased by 19%, with operating profit increasing by 44%, all on a year-on-year basis. July revenue was also up 22% year on year, so the momentum has been retained. For 2024, management is still guiding for flat revenue from consumer electronics products and computing products, which contributed 72% of Hon Hai’s revenue in 2023—but strong growth from cloud and networking products, and components and other products, which contributed the remaining 28% of 2023 revenue. Overall, management maintains its outlook for significant growth for the full year and believes visibility has become even better than in the previous update in May.

Apple, which has established itself as a consumer electronics behemoth over the past decade, has propelled Hon Hai into the world’s largest contract manufacturer. Despite its entrenched position in Apple, which accounts for around 55% of the group’s revenue, Hon Hai is faced with increasing competition in the traditional assembly business at a time when smartphone demand has matured. As a result, its returns on invested capital have fallen to 11% in 2023 from 23% in 2016.

Apple, which has established itself as a consumer electronics behemoth over the past decade, has propelled Hon Hai into the world’s largest contract manufacturer. Despite its entrenched position in Apple, which accounts for around 55% of the group’s revenue, Hon Hai is faced with increasing competition in the traditional assembly business at a time when smartphone demand has matured. As a result, its returns on invested capital have fallen to 12% in 2022 from 23% in 2016.