comscore Hon Hai looking at diversifying into R&D, software patents and e-commerce: Reuters

Hon Hai looking at diversifying into R&D, software patents and e-commerce: Reuters


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Hon Hai (also known as Foxconn), the world s largest contract electronic manufacturer is planning on diversifying its business interests to reduce the over-reliance on producing Apple s devices, Reuters reports. According to the report, Hon Hai is shifting focus on developing technologies, software patents and also e-commerce. Also Read - 'As it Was' by Harry Styles was one of the biggest tracks on Apple Music this year

The contract manufacturer is reportedly planning on hiring as many as 10,000 engineers in Taiwan to help develop these new business avenues. The company plans to focus on R&D and software patents and lastly will make a foray into e-commerce, after its retail business in China with German retailer Metro AG failed.

Hon Hai earned revenues in the region of $100 billion last year and has Apple to thank for about 60 percent of that. But with no new products from the Cupertino-based company in recent times and growing completion from the likes of Samsung, Hon Hai wants to explore new avenues.

In addition to the above mentioned ventures, the report also speaks about the company s plans to sell its own branded phones in Indonesia. Additionally, as we have previously reported, Hon Hai in partnership with Firefox, is also said to be developing new devices like smartphones, tablets and televisions that run on the latter s OS.

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  • Published Date: June 26, 2013 6:58 PM IST

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