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flag Taiwan's Foxconn, Apple supplier, reports 72% Q1 profit increase due to AI server demand and a low base from the previous year.

flag Taiwan's Foxconn, a major Apple supplier, reported a 72% increase in first-quarter profit, mainly due to strong demand for AI servers and a low base from the previous year. flag Despite this, the company's revenue declined during this period. flag Foxconn aims to produce 25% of its iPhones in India by 2028. flag The increase in profit can be attributed to strong demand for AI servers and the fact that the company's Q1 earnings last year were relatively low due to the pandemic.

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