Taiwan's Foxconn, Apple's biggest iPhone assembler and the world's largest contract electronics maker, expects its business this year to be "slightly better" than last year but is facing a shortage of chips for AI servers. "We did pretty well last year, although we had a rather large write off in the first quarter," Foxconn Chairman Liu Young-way said on Sunday, referring to a writedown related to its 34% stake in Japanese electronics maker Sharp Corp. Foxconn in November said it had a "relatively conservative and neutral" outlook for 2024...

Apple, Mondelez and Procter & Gamble are bullish on consumer spending growth in China despite recent economic turmoil there...