Hon Hai unit partners with Meitu for SE Asia, India

TaiwanFIH Mobile, a subsidiary of Hon Hai Precision Industry, said Wednesday that the company will work with a Chinese photo software developer to penetrate emerging Southeast Asian countries and India. FIH said that it is planning to set up a joint venture with China-based smartphone photo software developer Meitu, taking aim at the booming smartphone markets in Southeast Asia and India.


Hon Hai subsidiaries invest NT$2bn in 4G infrastructure

TaiwanTaiwan-based telecom operator Asia Pacific Telecom and 4G service operator AMBIT, both affiliates of electronics contract manufacturing giant Hon Hai (Foxconn), will jointly invest NT$2 billion (US$65 million) for 4G base stations and equipment in Taiwan, reports our Chinese-language sister paper Commercial Times. Four major telecom equipment providers — Nokia, Alcatel-Lucent, Ericsson and Huawei — are among the bidders for this tender. The report said Huawei and Ericsson did not offer prices.


Hon Hai’s first-quarter sales boosted by Apple’s new iPhones: analysts

TaiwanTAIPEI–The world’s biggest electronics manufacturer for hire, Hon Hai Precision Industry Co. (鴻海), posted higher sales for the first quarter of this year, compared with the same period last year, due to solid demand for two of the products it makes — Apple Inc.’s new iPhone models — the iPhone 6 and the iPhone 6 Plus, analysts said Saturday. They said that after Apple launched the two new iPhone models in September, strong demand extended to the first quarter of this year from the fourth quarter of last year, helping Hon Hai, which has been dubbed one of the most important “Apple concept stocks” in Taiwan, record a more than 14 percent year-on-year sales increase for the three-month period.


Hon Hai Will Build IT Service JV In Mainland China With SK Group

TaiwanTaiwan’s Hon Hai Precision and South Korea’s SK C&C, a subsidiary of SK Group, will establish a joint venture to provide information technology services in mainland China. Hon Hai said that the joint venture will first provide information technology services to Hon Hai’s plants in mainland China and offer integrated security systems to other companies in mainland China. According to Hon Hai, the joint venture, which will be formally launched in May 2015, will also explore information technology business opportunities in medical and financial sectors.


Hon Hai aiming to participate in Sharp management: report

JapanTaiwan-based Hon Hai Precision Industry wants to participate in the management of Sharp if it is to invest in the struggling Japanese electronics maker, Hon Hai chairman Terry Gou said in a report in Toyo Keizai. In an interview published in the Japanese weekly Friday, Gou said Hon Hai is ready to support Sharp financially, but the support is contingent on being able to join in the Japanese company’s management. Gou said he has not met with Sharp president Kozo Takahashi in a year, but if the Sharp executive wanted to see him, he would be able to fly to Japan at any time.


Hon Hai’s China retail unit builds new brand for ‘makers’

China.gifA retail subsidiary of Hon Hai Precision Industry, the world’s largest contract electronics manufacturer better known by its trading name Foxconn, plans to open 20 stores in China for technology innovators known as “makers,” by the end of the year, a company executive said on Sunday. According to Wang Jung-ching, general manager of Big Cyber, a new retail brand under Hon Hai’s Cybermart consumer electronics chain in China, his firm will open new stores in Beijing and Guangzhou in April and May after already a first store in Shanghai.


Hon Hai could help to rescue struggling Sharp

JapanTAIPEI/TOKYO: Taiwan’s Hon Hai Precision Industry is considering joining efforts to help rescue Japanese electronics maker Sharp, the company said in a statement late on Friday.  Hon Hai’s willingness to ‘participate’ in Sharp has never been limited to investing, but could include technology licensing transfer and other forms of cooperation, according to the statement from Hon Hai, which is also known as Foxconn.


Hon Hai exec allegedly steals 4,000 iPhone 6 handsets

TaiwanNew Taipei District prosecutors on Thursday summoned a Hon Hai Precision Industry executive for questioning on allegations that he had stolen 4,000 iPhone 6 handsets. Initial findings of an investigation revealed that the suspect surnamed Tsai is a veteran executive at Hon Hai, the world’s largest electronics contract manufacturer which manufactures many Apple products.


Hon Hai 2014 net profit could break record

TAIPEI–Hon Hai Precision Industry Co., the world’s largest contract electronics maker, posted a record high in sales in 2014, with market analysts attributing the growth to an increase in orders from U.S. consumer electronics giant Apple Inc. The strong sales for 2014 are expected to help Hon Hai break a record in net profit, analysts said.


Taiwan ODMs to attract IoT partnerships with fund-raising platforms

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.


Apple Orders Help Hon Hai Achieve 22% Revenue Growth In October 2014

Due to the fast sales of Apple’s new products, Hon Hai achieved combined operating revenue of NTD468.999 billion, which was about CNY94 billion, in October 2014, representing a year-on-year increase of 22.58% and an increase of 12.9% compared with September 2014. Hon Hai revealed that its combined operating revenue in October 2014 was the second highest monthly revenue in the company’s history, which was only second to its NTD490.931 billion revenue in December 2013.


Turkish cellphone producer said to partner with Hon Hai

TAIPEI–Telpa, a Turkish mobile phone supplier, is planning to work with Taiwan-based high-tech giant Hon Hai Precision Industry Co. (鴻海) to roll out mobile phones and tablet computers in Turkey, according to Reuters. Cited in the report, Telpa Chief Executive Sebahattin Yaman said that while Hon Hai, also known as Foxconn, plans to invest in Turkey to produce cellphones and tablets, the Taiwanese firm is also considering moving production of other gadgets to the country.


Hon Hai’s 10% Oct. sales rise due to increased Apple orders

TAIPEI — Analysts on Tuesday attributed the 10-percent month-on-month sales rise posted in October by Hon Hai (鴻海) Precision Industry Co., the world’s largest contract electronics maker, to rising orders from Apple Inc. Hon Hai, which assembles iPhones and iPads for Apple, has been dubbed one of the most important “Apple concept stocks” in the local market as the U.S. consumer electronics giant accounts for more than 40 percent of Hon Hai’s total sales.


Hon Hai says reviewing investments after media reports on US$5.7bil China plant

TAIPEI: Hon Hai Precision Industry Co Ltd said Friday it was reviewing its investment plans after media reports said the major Apple Inc supplier may invest up to US$5.7bil (RM18.69bil) in a factory to make smartphone displays in China.  On Thursday, The Wall Street Journal reported that Hon Hai was in talks with the government of Zhengzhou, in Henan province, about investing as much as 35bil yuan (RM18.76bil) in a new factory that would make high-end screens for iPhones and other mobile devices.


Forbes hails Hon Hai as example of Asian power

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.


Hon Hai Eyes CNY5 Billion Investment Plan In Shanxi For Electric Cars

Terry Gou, chairman of Hon Hai Group, announced that the company will invest over CNY5 billion in Shanxi to develop the electric car industry. Gou revealed that in 2014, Foxconn’s output in Shanxi will surpass CNY60 billion and the company already has 100,000 employees in this province. The company is expected to invest over CNY5 billion in Shanxi to develop the electric car industry by using the province’s rich energy resources.


TSMC, Hon Hai, MediaTek top Q2 R&D spenders

TAIPEI–Taiwan Semiconductor Manufacturing Co. (TSMC), Hon Hai Precision Industry Co., and MediaTek Inc. ranked as the three largest research and development spenders among the manufacturers listed on Taiwan’s main board and the over-the-counter (OTC) market in the second quarter of his year, according to the Ministry of Economic Affairs (MOEA). Citing statistics, the MOEA said that the TSMC, the world’s largest contract chip maker, spent NT$13.6 billion (US$453 million) in R&D expenses during the April-June period, topping R&D spending rankings among Taiwan’s listed manufacturers.


Taiwan’s Hon Hai Q2 net profit up 19%

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.


Hon Hai Makes Korean Inroads With SK Group Purchase

Hon Hai Group has purchased 2.45 million shares of SK C&C, a subsidiary of South Korea’s SK Group, representing a shareholding of 4.9%. Hon Hai published a report, stating that as a long-term investment, its subsidiary Best Leap Enterprises Limited acquired 2.45 million shares of SK C&C, with the price of KRW155,500 per share. The total trading value was KRW380.975 billion, which was about CNY2.34 billion.


Hon Hai buys SK C&C shares, expands portfolio into ICT

Hon Hai Precision Industry Co. recently made a purchase of 4.9 percent share in SK C&C Co. The Foxconn Technology Group unit, the largest in the company, is still looking to expand further. Hon Hai spent $377 million or 381 billion won for all the stocks from SK Holdings Co. That’s about 155,00 per share, according to Chairman Chey Tae-won. The Taiwanese multinational electronics seems to be bent on venturing into automation, cloud computing, as well as, electric cars. This could mean Foxconn no longer wants to depend on Apple as its main buyer or maybe the company still wants to grow.