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Foxconn Technology Group reported a 33% rise in fourth-quarter net profit

Contract manufacturer Foxconn Technology Group reported a 33% rise in fourth-quarter net profit and forecast significant growth this year, boosted by investments in artificial intelligence. Foxconn, formally known as Hon Hai Precision Industry, said net profit in the final quarter of 2023 rose to about 53 billion New Taiwan dollars (US$1.68 billion). It said revenue in the quarter fell 5.7%, owing to lackluster demand for cloud and networking products and a slowing personal-computer market.

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