The Foxconn Group needs to hire more talent from outside to accomplish its goal of transforming its operations from manufacturing to a trading-centric approach, according to industry sources. To reach the goal of sustainable growth, the group is currently promoting the establishment of a corporate culture that will be based on innovation, creativity and entrepreneurship, and therefore is mapping plans to hire more talent, revealed the sources.
Taiwanese electronics manufacturer Foxconn Technology Group, which produces everything from Apple’s iPhone and Microsoft’s Xbox One to HP servers, has patented two data center containers, each with a different cooling system, and a system for powering containers with solar panels. In addition to manufacturing HP’s commodity x86 servers for web-scale data centers, Foxconn also produces HP’s data center modules called EcoPod. But the original design manufacturer has also been growing its own data center container business.
Foxconn Electronics (Hon Hai Precision Industry) is hiring talent to develop a logistic system for its e-commerce business to help speed up product deliveries and is looking to build the system via its existing logistic system for IT product shipments, according to sources from the upstream supply chain. Eyeing the development potential of the e-commerce business, the Foxconn Group has begun to enhance its presence in the segment in China by promoting its own online shopping platform, flnet.com.
FIH Mobile, the handset arm of Foxconn Electronics, will officially close its handset assembly plant in Chennai, India on December 24, 2014, according to the company. A total of 1,700 employees of the plant will be affected, and the company has promised to cooperate with the local government and labor union to lay off or hand out compensations in accordance with relevant regulations, FIH said.
With Internet of things (IoT) applications growing popular, many Taiwan-based ODMs and EMS providers are planning to establish fund-raising platforms to attract partnerships with designers worldwide, according to sources from the upstream supply chain. Foxconn Electronics (Hon Hai Precision Industry) established the kick2real website in April, while Quanta Computer is also considering establishing a similar platform.
Foxconn Electronics (Hon Hai Precision Industry) has announced that its subsidiary Foxteq Holdings sold 211,354 shares of GoPro stock at US$75 per share and earned US$15.85 million from the trade, according to a company filing with the Taiwan Stock Exchange (TSE). The transaction generated profits of US$12.4 million for Foxteq and the company currently still has a 7.37% stake in GoPro, equivalent to 9.41 million shares.
With the now-fledging wearables market set to explode thanks to Apple’s upcoming smartwatch, many hardware startups are looking for creative ways own wristband real estate. Taiwan’s JoyRay is hedging its bets youngsters with Jumpy, a smartwatch for kids that’s currently raising funds on Kickstarter.
Foxconn Electronics, Alibaba and 21 Vianet Group on November 26 jointly signed with the city government of Guiyang, southwestern China, to set up a citywide network of Wi-Fi hot spots to provide free Internet-access services, according to Foxconn. The first phase of the Wi-Fi network will come into operation in June 2015 and the entire network will be completed in three years, Foxconn said.
Foxconn Electronics (Hon Hai Precision Industry) will sign agreements with Administration Commission of Zhengzhou Airport Economic Comprehensive Experimental Area in China by the end of 2014 to establish an airborne logistic hub 2km east of the airport. The hub is set to be fully completed in six years and after the completion, Foxconn’s e-commerce business headquarters will also be set up there.
Xu Lizhi was a 24-year-old factory worker at Foxconn, the Taiwanese-owned Chinese manufacturer responsible for making a lot of our fancy electronic gadgets, including most of Apple’s products. Since the scandal over Foxconn’s worker suicides several years ago, employee suicides have often made the news, but Xu’s death following his leap from a dorm on the Foxconn campus is different. Xu was a poet, and a lot of his work has been published posthumously, both in newspapers and online.
Foxconn Electronics (Hon Hai Precision Industry) has announced consolidated revenues of NT$469 billion (US$15.35 billion) for October, up 12.89% on month and 22.58% on year, mainly thanks to its strong consumer electronics shipments, while its PC and communication products also achieved steady on-month shipment growth. For the first 10 months of 2014, revenues amounted NT$3.18 trillion, increasing 5.82% from a year earlier.
21Vianet and Foxconn have signed a strategic cooperation agreement to establish a joint venture named Smart Time Technologies Limited. The two parties will jointly build and develop a global supply chain for the Internet data center and cloud computing infrastructure markets. In addition, the companies announced they plan to open a 21Vianet-Foxconn Internet infrastructure and engineering technology research and development center. This development is expected to further strengthen the technological collaboration between the two companies.
Ingrasys Technology, a subsidiary of Foxconn Electronics (Hon Hai Precision Industry), has acquired a 40% stake in Taiwan-based cloud computing-based storage and computing solution provider Hope Bay Technologies. Hope Bay said it was originally a cloud computing technology center under power supply maker and energy management solution provider Delta Electronics, which spun it off in May 2013.
Last week, around 1,000 workers at Foxconn’s Chongqing plant stopped working. They made banners and demanded a meeting with management to discuss their grievances, making it clear that they wouldn’t step back on the assembly line until that happened. Their beef? They wanted to work longer hours. Foxconn wasn’t giving them enough overtime.
Foxconn Electronics (Hon Hai Precision Industry) and 21Vianet Group, a China-based Internet data center (IDC) service provider, will invest US$25 million initially to establish Smart Time Technologies, a joint venture to provide planning, design, construction, project financing, operation and maintenance services for IDCs in China and other markets, according to 21Vianet. 21Vianet said it and Foxconn will hold a 60% and 40% stake respectively in the joint venture.
TAIPEI–Asian tech giants are fast-rivaling their Western counterparts, with Taiwan’s Hon Hai (鴻海) Precision Industry Co. an example of that rising power, according to an article posted on the Forbes website. “Call them copycats if you want, but the Asian tech giants from South Korea, Taiwan and China are fast becoming the new Ciscos and IBMs of the world,” according to the article published Oct. 5.
Despite having strong performance thanks to iPhone sales, Foxconn Electronics (Hon Hai Precision Industry) has been aggressively helping its China-based smartphone clients such as Xiaomi, Meitu, Oppo and Meizu boost their sales and is looking to increase the revenue contribution from non-Apple players, according to sources from the upstream supply chain. Since most of these vendors are mainly selling their smartphones domestically, helping them to sell their products to non-China markets has become a new business direction that Foxconn is looking to expand in the future, the sources noted.
Foxconn Electronics will invest US$2 million to acquire a 10% stake in AirSig, a Taiwan-based developer of digital signing technology, and apply the technology to information security for mobile devices, according to AirSig. Prior to the investment, Foxconn also invested in Norway-based Next Biometrics to acquire fingerprint identification technologies.
Foxconn Electronics (Hon Hai Precision Industry) is interested about the Internet of Things (IoT) industry and has been investing in related businesses as well as looking at its existing businesses to make connections with the IoT industry, according to sources from the upstream supply chain. However, Foxconn does not plan to only become a maker of IoT products, the company is also looking to acquire technologies, IC design capability and the ability to conduct back-end transmission, data collection and analysis, the sources said.
TAIPEI: Taiwan’s tech giant Hon Hai Precision Industry, a major supplier to Apple, said Wednesday that its net profit in the three months to June rose almost 19%. Net profit in the second quarter was Tw$20.19bil (RM2.14bil), compared to Tw$16.98bil (RM1.8bil) in the same period the previous year and Tw$19.54bil (RM2.07bil) in January-March. Hon Hai — the parent company of Foxconn in China — said in a statement that sales in the second quarter eased to Tw$879.1bil (RM93.25bil), down 1.8% year-on-year.