Apple iPhone X Disappointing Sales Force Foxconn To Venture Into AI

Amid the disappointing performance of the iPhone X, Apple's assembler Foxconn (Hon Gai Precision Industry) has revealed that it is venturing into artificial intelligence and other opportunities. Foxconn announced Friday that it is pledging to dedicate around $342 million to make itself a key artificial intelligence player. The move is seen as the Taiwanese tech conglomerate's way of seeking for opportunities outside of mainly assembling smartphones, as per Nikkei Asian Review. "We will at least invest some 10 billion New Taiwan dollars ($342 million) over five years to recruit top talent and deploy artificial intelligence applications in all the manufacturing sites," Foxconn Chairman Terry Gou said. "It's likely that we could even pour in some $10 billion or more if we find the deployments are very successful or can really generate results."