Taipei, Aug. 7 -- Taiwan-based Hon Hai Precision Industry Co., better known as Foxconn, reported its highest-ever July sales, reaching NTD 613.87 billion (USD 20.5 billion).

The iPhone assembler and AI server supplier disclosed the figures on Tuesday, marking a 7.25 per cent increase year-on-year and a 13.63 per cent jump from June, reports Focus Taiwan.

The surge was fueled largely by the company's cloud and networking division, which saw "strong" growth thanks to increased demand for AI and cloud services.

However, the gains were partially offset by the stronger Taiwan dollar, which weighed on its electronics component and smart consumer electronics divisions, dragging year-on-year growth in those sectors into the red.

Foxconn noted...