Six Taiwanese companies rank among the top ten global Electronics Manufacturing Services (EMS) providers for 2024, with Foxconn, Quanta, Wistron, and Inventec hitting record revenues, fueled by surging AI server demand. Despite ongoing supply constraints, AI servers are poised to further boost operational performance in 2025, with consumer electronics also expected to recover after years of inventory adjustments.
Foxconn, the world's leading EMS provider, saw its 2024 consolidated revenue reach NT$6.85 trillion (approx. US$209.26 billion), up 11.32% year-on-year, surpassing forecasts and driven by robust AI server shipments. Chairman Young Liu highlighted the company's strengths in system design, vertical integration, and global operations, predicting AI servers will account for over 50% of total server revenue in 2025.
Quanta secured second place, with 2024 revenue soaring 29.8% year-on-year to NT$1.409 trillion. Chairman Barry Lam pointed to the mass production of AI supercomputers as a key growth driver, with AI server revenue expected to grow by triple digits in 2025, fueled by Nvidia GB200 shipments.
Wistron jumped to fifth place, reaching NT$1.04 trillion in revenue for 2024, up 21.08%. The company achieved notable profit gains, driven by high-margin AI servers and networking products. Chairman Simon Lin emphasized Wistron's transformation into a technology services firm focusing on decarbonization and circular economies.
Inventec's 2024 revenue is set to rise 25.55% to NT$646.286 billion, driven by strong AI server demand from US and Chinese clients. Despite geopolitical uncertainties, growth is expected to continue in 2025, albeit at a moderated pace.
Weak consumer electronics sales weighed on Compal Electronics and one other Taiwanese EMS provider, with both forecasting revenue declines in 2024. However, Compal anticipates significant growth in AI server revenue by 2025, aiming to expand its share of the server market.
Sales of Taiwanese EMS majors (NT$b) | |||
Company | 2024 | 2023 | Y/Y %) |
Foxconn | 6,162.22 | 6,859.89 | 11.32 |
Pegatron | 1,256.78 | 1,125.35 | -10.46 |
Wistron | 867.06 | 1,049.26 | 21.01 |
Compaq | 946.71 | 910.27 | -3.85 |
Inventec | 514.75 | 646.29 | 25.55 |
Quanta | 1,085.61 | 1,409.11 | 29.8 |
Source: companies, January 2025
