TAIPEI -- Wistron's revenues rebounded in the fourth quarter, rising to NT$210 billion ($6.9 billion).

For the year ended Dec. 31, the ODM reported consolidated revenues of NT$659 billion ($21.7 billion) and net income of NT$2.9 billion ($953.9 million).

The company is undergoing a shift away from relying on PC sales to other types of consumer and automotive electronics. It won, for example, the contract to build Apple's iPhones in India. In 2016, total PC revenue dropped to 45% of overall sales, and could shrink further in 2017, company officials said.

Smart device revenue was up 35% year-over-year to NT$132 billion ($4.34 billion) and server was up about 40% to NT$67 billion ($2.2 billion). Smart devices now make up about 20% of the firm's revenue.

On a conference call this week, chairman Simon Lin called 2016 "a year that we changed the momentum from downward to become upward."

"We believe that, 2017 and onward, we are going to change the portfolio much quicker than ever before. So in 2016, we know that the fundamental PC business is still not very, very promising, still shrinking, and we have pretty much good growth on the non-PC area. Growth is on smart devices, certainly. Not only smart devices; we saw growth also on the server storage and other non-PC area."

"I think that the overall portfolio change is very obviously clear. And we were working on using the new segment which mostly come from the smart devices that we have to have our capability to prove that not only we earned the business but also we can generate the proper profit for the new business."

For 2017, Lin said Wistron expects flat growth for notebooks and desktops, monitors and related devices. "On the PC side, it is really, really very, very flat and we are happy to keep this way because the total market is shrinking," he said. He expects growth of around 10% in servers, and expects growth in some peripherals and smart devices as well.

Lin guided for a sequential drop in sales of 15% to 20% in the first quarter. He said the firm, which has a small plant in Mexico and a refurbishing site in Dallas, could ramp operations in El Paso, TX, "very quickly" if needed.