Hon Hai posts record high annual revenue in 2024

Taipei, Jan. 5 (CNA) Taiwan-based manufacturing giant Hon Hai Precision Industry Co. confirmed Sunday that its sales in 2024 were the highest in the company's history and outpaced the 2023 number by double digits.

In a statement Sunday, the company, also known as Foxconn globally, reported consolidated sales of nearly NT$6.86 trillion (US$208.2 billion) in 2024, up 11.37 percent from a year earlier and the highest full-year figure it has ever posted.

It also posted its second best sales total for December and the best fourth quarter results ever, according to the statement.

Despite a 2.64-percent month-over-month decline, Hon Hai's consolidated sales in December were up 42.31 percent from a year earlier, helped by a small shipment of GB200 servers powered by Nvidia's advanced Blackwell graphics processing unit, it said.

The company said it expected mass production of the servers with artificial intelligence (AI) technologies to begin in late January.

Fourth-quarter unaudited consolidated sales totaled NT$2.13 trillion, up 15.03 percent from the previous three-month period and 15.17 percent from a year earlier, beating its growth forecasts in November, according to the company.

All four of Hon Hai's product categories -- cloud and networking products, components and other products, computing products, and smart consumer electronics -- showed year-over-year growth in December and in the fourth quarter, the company said.

Looking ahead to 2025, Hon Hai expected year-over-year sales growth in the first quarter, but it also foresaw a quarter-over-quarter decline because of the strong fourth-quarter figure.