Foxconn, the world’s leading contract electronics manufacturer, is set to report a 7% year-on-year rise in third-quarter profit, driven by strong demand for AI servers. The company, best known for assembling Apple‘s iPhones, posted its highest-ever quarterly revenue, with a 20% increase from the previous year, attributed to booming AI-related sales. Foxconn’s net profit for July-September is expected to reach T$46.3 billion, marking the fifth consecutive quarter of profit growth.
In addition to its positive financial performance, Foxconn continues to expand its operations globally. It is building the world’s largest manufacturing facility in Mexico, dedicated to bundling Nvidia’s GB200 superchips for next-generation computing platforms. The company’s optimistic outlook is reflected in record-breaking sales for October and expectations of further revenue growth in the fourth quarter.
Foxconn‘s share price has surged more than 100% in 2024, significantly outperforming the broader market. The company will update its full-year outlook during its earnings call on Thursday, where it is expected to provide additional insights into the continued growth of its AI business.
MasOrange, Telefónica, Vodafone, and the i2CAT research centre have introduced Europe’s first multi-operator Open Gateway API lab. The lab provides a developer-friendly environment that simplifies creating and testing applications using standardised telecom APIs. This initiative, part of the global GSMA-led Open Gateway programme, focuses on turning telecommunications networks into programmable platforms, enhancing industry-wide collaboration.
Operating under the CAMARA open-source framework, the lab is designed to accelerate API adoption, encouraging joint use cases and performance consistency. i2CAT will play a critical role in ensuring API integration and developing new capabilities tailored to industry demands.
Víctor del Pozo of MasOrange described Open Gateway as a transformative step for designing and marketing digital services, while Telefónica‘s Irene Bernal emphasised the lab’s potential for multi-operator cooperation and driving opportunities across the digital ecosystem. The collaboration is seen as a pioneering public-private partnership, showcasing Spain‘s leadership in fostering digital innovation.
Sergi Figuerola of i2CAT noted the significance of integrating cutting-edge research into telecom network platforms, highlighting the lab as a model for technological collaboration. Through strategic cooperation, the lab will enhance digital services and create a more unified and efficient telecom infrastructure across Europe.
South Africa is considering reducing taxes on smartphones to make them more affordable as the country prepares to phase out 2G and 3G networks. Communications Minister Solly Malatsi revealed he has had initial discussions with the Treasury about cutting the ad valorem tax, which currently increases smartphone prices. The goal is to support accessibility to newer, faster networks like 4G and 5G.
The government’s policy, outlined in the Next Generation Radio Frequency Spectrum Policy paper, aims to fully shut down older networks by 31 December 2027. The phasing out of these networks is intended to free up valuable radio waves for advanced technologies. However, critics argue that the move could worsen the digital divide, particularly impacting low-income and rural populations who may struggle to afford smartphones compatible with faster networks.
Malatsi emphasised that making smart devices more affordable is crucial, noting that eliminating the luxury excise tax could significantly reduce costs. The country’s largest telecom operators, MTN and Vodacom, have called for collaboration between industry stakeholders and the government to manage the transition. The Association of Comms and Technology has also urged the government to ease the transition by lowering taxes and reconsidering a strict shutdown deadline.
Meta Platforms is gearing up to introduce advertising to its Threads app early next year, aiming to tap into a new revenue stream while competing with X (formerly Twitter). The Information reported that a limited number of advertisers will be allowed to publish ads on Threads starting in January, with the initiative spearheaded by Instagram’s advertising team. Threads, which launched in July 2023 amidst the upheaval at X under Elon Musk’s ownership, has rapidly grown to 275 million monthly active users, as announced by CEO Mark Zuckerberg in October.
Despite the app’s quick expansion, Meta remains cautious about its immediate profitability. CFO Susan Li, during a recent post-earnings call, indicated that Threads is not expected to be a significant revenue driver by 2025. She emphasised that the company is prioritising consumer value, and monetisation features are not yet a primary focus. A Meta spokesperson echoed this sentiment, confirming that Threads currently has no ads or monetisation strategies.
The timing for the introduction of ads on Threads could be opportune, given the instability at X. Since Elon Musk‘s acquisition of X, the platform has experienced disruptions and a decline in ad revenue, as some advertisers feared their brands could appear alongside controversial or harmful content. Musk’s management style and significant policy changes prompted many brands to reconsider ad spending on the site. Notably, X has taken legal action against a global advertising alliance and some major companies, accusing them of conspiring to boycott the platform and contributing to revenue losses.
Meta‘s plans to monetise Threads come as it seeks to entice disillusioned advertisers from X. However, the company is carefully balancing the need to develop Threads as a welcoming and user-friendly environment while exploring advertising opportunities. The rollout of ads and additional features is set to shape how Threads evolves as a major social media contender in the years to come.
The London Internet Exchange (LINX) will expand its presence in Africa, announcing plans to open new internet exchange points (IXPs) in Ghana and Kenya by early 2025. This move aims to strengthen connectivity in both West and East Africa, where demand for internet services continues to grow rapidly.
In Ghana, LINX Accra will launch in phases with data centres from Onix and PAIX, enabling a robust and interconnected system. This setup will allow networks to connect at LINX Accra through a single cross-connect, enhancing redundancy and interconnectivity. The phased rollout is expected to significantly support Ghana’s local internet service providers and infrastructure.
In Kenya, LINX Mombasa will be the first IXP at the iColo MBA2 facility in partnership with local data centre provider iColo, a subsidiary of Digital Realty. Built to mirror LINX’s existing IXP in Nairobi, the Mombasa site will provide high-speed services through 100G ports and strengthen interconnection across the East African region.
Both Ghana and Kenya, strategically positioned on Africa’s coastlines, benefit from numerous submarine cable landing points. LINX believes these new IXPs will establish Ghana and Kenya as key internet traffic hubs in Africa, boosting local ISP growth and supporting international connectivity.
Europe’s largest tech company, ASML, projected an annual sales growth of 8% to 14% over the next five years, driven by strong demand for its advanced chip-making tools amid a global boom in AI. ASML’s CEO Christophe Fouquet highlighted the company’s advanced EUV technology as pivotal in meeting the growing AI demand, positioning the firm well for continued profitability.
Ahead of its investor day in the Netherlands, ASML forecasted revenue between €44 billion and €60 billion by 2030, with stable gross margins between 56% and 60%, reassuring analysts who had been concerned by recent earnings shortfalls. The company’s shares rose by 2.6% in early trading, buoyed by its steady outlook on AI-driven growth despite weaker demand in other chip segments.
ASML faces challenges in China, where US and Dutch export restrictions prevent it from selling its most advanced EUV and certain DUV tools. However, ASML continues to supply older DUV models to Chinese buyers, even as China’s share of ASML’s total sales has dropped significantly.
Amazon has launched ‘Amazon Haul,’ a low-cost shopping service aimed at capturing budget-conscious consumers in the US The platform offers a range of products priced primarily under $10, with some items starting at just $1. Accessible through the Amazon app, the service caters to customers looking for affordable essentials and aligns Amazon with popular discount rivals like Temu and Shein.
The move comes as Amazon adapts to changing consumer habits, with CEO Andy Jassy noting a shift toward cheaper items and basic goods. Available via an app update, users can explore ‘Haul’ by simply searching for it within the Amazon interface. The company hopes this initiative will appeal to customers seeking value in a tightening economy.
By tapping into the growing market for low-cost ecommerce, Amazon aims to strengthen its position against rising competition from Chinese platforms. With its vast product range and customer base, ‘Amazon Haul’ could redefine how Americans shop for everyday low-cost items.
Kuwait KEMS-Zajil Telecom and Emirates MBCOM Technologies have partnered to strengthen digital infrastructure and cybersecurity across the Middle East, aiming to help businesses remain secure and agile in a connected, fast-evolving world. This partnership formalised through a Memorandum of Understanding (MoU) on 16 October 2024, focuses on providing enterprise solutions in critical areas like network optimisation, cloud services, and cybersecurity.
By merging their expertise, the companies intend to deliver advanced solutions that optimise network performance and bolster defences against cyber threats, essential capabilities for supporting business growth and resilience. Moreover, both companies see this partnership as a strategic move to drive digital transformation in the region, effectively meeting the rising demand for secure, efficient, and scalable digital services.
Furthermore, KEMS-Zajil Telecom emphasised that collaborating with MBCOM Technologies allows them to expand their digital services portfolio with cutting-edge solutions that enhance growth and security. Similarly, MBCOM Technologies highlighted how this partnership positions both companies to bring innovative technology to regional businesses. Ultimately, with its dual focus on advanced infrastructure and robust security, this collaboration reflects a shared vision to empower Middle Eastern enterprises through comprehensive digital solutions that drive long-term growth and resilience.
Khazna, BEEAH, and the Sharjah Communication Technology Authority (SCTA) are partnering to enhance Sharjah’s digital infrastructure by developing advanced data centres. Building on a joint venture formed in 2022 between BEEAH and Khazna, SCTA is joining the effort to create Sharjah’s largest data centre, featuring a 9MW capacity, with the first phase focusing on Kalba.
That project aims to provide the necessary infrastructure to support digital transformation in Sharjah, driving innovation and enabling emerging technologies like AI and blockchain. As a result, the collaboration will advance telecommunications solutions and significantly contribute to the emirate’s broader digital growth.
In addition to fostering technological advancements, the partnership also emphasises sustainability. The project will explore eco-friendly energy solutions, such as waste-to-energy power generation, and incorporate greywater recycling systems to minimise water usage.
Moreover, energy-efficient technologies will be integrated to reduce the environmental footprint. Consequently, it will foster economic growth and technological leadership in the UAE.
The Indian Ministry of Mines and the International Energy Agency (IEA) have signed a memorandum of understanding (MoU) to enhance India’s critical mineral sector. Through this collaboration, India will gain access to reliable data, analysis, and policy recommendations, improving decision-making and resource management.
Furthermore, the MoU aims to align India’s policies, regulations, and investment strategies with global best practices, accelerating the country’s transition to sustainable and resilient energy systems. In addition, the partnership will focus on capacity development and knowledge exchange through joint research projects, workshops, and training programs, which will enhance India’s technical and institutional capabilities in critical mineral management.
By learning from the experiences of other IEA member states, India seeks to foster innovation in technology development, extraction techniques, and recycling methods, ultimately boosting its competitiveness in the global market. Approved by the Union Cabinet in October 2024, this collaboration marks a significant milestone in securing India’s critical mineral resources.
As a result, the MoU underscores India’s commitment to adopting advanced global practices while addressing its domestic energy needs. Consequently, it sets the stage for long-term strategic growth in the critical minerals sector, promoting sustainability, innovation, and energy security across the nation.
