Foxconn reports record growth in its 2021 financial statement
On January 5th, 2022, Foxconn released its annual financial report for the fiscal year ending on December 31st, 2021. The company reported a record $5.9 trillion NT, or USD 215.0 billion. Foxconn has attributed these figures to its position as the world’s largest supplier of equipment to data centers, an industry that has boomed as the world continues to shift towards cloud computing and embrace the metaverse concept. Foxconn estimates that it generated $1.0 trillion NT (USD 35.3 billion) in revenue from server shipments alone. Foxconn has indicated that it will continue to pursue business opportunities in cloud computing and has begun shipping graphics processing units (GPUs) to the global market.
Balance Sheet|ESG|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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