TAIPEI (Taiwan News) — Foxconn Chair Liu Young-way (劉揚偉) said Friday the Middle East conflict has so far had a minimal effect on the company.

Liu made the remarks at Foxconn’s Lunar New Year opening ceremony at its headquarters in Tucheng, New Taipei, attended by senior executives, per CNA.

Commenting on US-Iran tensions, Liu said he did not want to see war and hoped the conflict would end quickly. He added the situation has had limited impact so far but warned a prolonged conflict could push oil prices toward NT$3,100 (US$100) per barrel.

Higher oil prices could increase raw material and processing costs, Liu explained, adding that Foxconn is monitoring developments in global energy markets.

Liu also gave an update on Foxtron Precision’s joint venture EV charging station factory in Saudi Arabia. He said construction is on schedule and production is expected to begin as planned.

Nvidia, a Foxconn partner, will hold its GTC conference from March 16–19. Liu revealed that he will present a special gift to Nvidia CEO Jensen Huang (黃仁勳) at the event, adding, “Please stay tuned.”

Looking ahead, Liu said the company expects a strong year driven by demand for smartphones and AI products. He forecast double-digit revenue growth compared to last year, assuming no major disruptions.