Foxconn

Foxconn advanced its environmental sustainability goal, setting a target for its worldwide operations to run on 100 per cent renewable energy sources by 2040.

Taiwan-headquartered contract manufacturer Foxconn reportedly confirmed a shift to a rotating CEO system, with the heads of the company's six business groups each having a stint in the top position.

Taiwan-headquartered contract manufacturer Foxconn began looking to alter its top management structure, mulling rotating the CEO position, a move which has been on the table for several months, Reuters reported.

Contract manufacturer Foxconn stood by an earlier optimistic Q2 revenue guidance after sales in March rebounded, following sharp year-on-year declines in the first two months of 2024.

Foxconn registered a spike in profit growth in Q4 2023 despite falling sales, driven by demand for cloud and networking gear to power AI applications.

Foxconn forecast revenue in the opening quarter of 2024 to decline year-on-year, following a fall in December 2023 due to slowing demand for cloud, networking and computing products.

Foxconn outlined plans to reshape the AR landscape by partnering with Poro Technologies (Porotech) to develop microLED technology and integrate technology across diverse disciplines.