Even before iPhone 18 Pro mass production, AI drives Foxconn to record profits

Ahead of producing the iPhone 18 Pro and the folding iPhone, Apple's main manufacturer Foxconn has announced the greatest monthly earnings in its 52-year history, and says it's all down to AI demand.

In late July 2026, Foxconn began its annual recruitment drive to get enough workers to produce the forthcoming iPhone 18 Pro. But according to Reuters, the company has now reported figures for July that already saw it earn $29.6 billion.

It's the highest monthly earnings in the company's history. Foxconn said that this is a 54.2% rise year over year.

While full details have not yet been published, Foxconn's smartphone division reportedly posted strong growth. But the record-breaking overall feature was down to "strong pull-in momentum for AI products," according to the company.

Foxconn is a major supplier to Nvidia, which recently has alternated with Apple for the title of the world's most valuable company. Foxconn makes AI servers, GPU modules, and more, for Nvidia.

"Looking ahead to the third quarter, AI rack shipments are expected to maintain growth, and operations will gradually gain momentum as ICT [Information and Communication Technology] products enter peak season," continued Foxconn. "[However, it is] necessary to monitor the impact of the volatile global political and economic situation."

That economic situation includes how AI demand has led to a global processor and memory shortage. It's this which has prompted price rises in consumer electronics such as Macs and iPads, and is expected to mean iPhones, and just about every other piece of consumer electronics, will be more expensive.

Foxconn advised that it expects to continue growth throughout the next quarter because of that peak season. That's partly because the quarter will see the company's manufacturing of the iPhone 18 Pro.

The rest is holiday production of consumer electronics, as it has always been.

If rumors are correct, it may also see the launch of the iPhone Fold. That was reported to have had manufacturing problems, but these are said to have been resolved.