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Foxconn Looking To Diversify Its Business

Foxconn Looking To Diversify Its Business

May 27, 2013
Foxconn has an apparent backup plan to counteract Apple’s so-called “slump.” According to The Wall Street Journal, the company is planning to make its own line of branded iOS device accessories. Also known as Hon Hai Precision Industry Co., Foxconn assembles iOS devices and other consumer electronics. But the report quotes an executive saying the company wants to branch out:
"Chairman (Terry Gou) has ordered all business units to produce peripheral accessories of electronics products as it is more profitable than assembly services. We also plan to license Apple's technology to make some own-brand accessories that are compatible with iPhones and iPads," said one of the executives.
The report also has one other interesting nugget of information, possibly regarding a certain rumored new Apple product.
Hon Hai's ultimate aim is to be able to supply content for all of the devices it assembles, executives familiar with the company's strategy said. The company is hiring software engineers for its research and development center in southern Taiwan, who will focus on developing mobile applications, cloud computing technology for servers and applications for smart watch devices.
Thanks in large part to Apple, Foxconn posted a record profit of $3.2 billion in 2012. The company has also reportedly been on a hiring binge in preparation for the next-generation iPhone, which is expected to be unveiled sometime this fall.

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