Hon Hai Precision Industry Co., Ltd. (TPE:2317), also known as Foxconn, is best known for being the primary manufacturer behind iPhones and iPads. Based in Taiwan, Hon Hai Precision Industry Co., Ltd. (TPE:2317) will now be investing $40 million in the U.S. to ramp up the manufacturing of high-end products.
Hon Hai Precision Industry Co., Ltd. (TPE:2317), the manufacturing company known as Foxconn, may start building smartphones and tablets for 7-Eleven in Taiwan. The development of these products is an extension of the partnership between Hon Hai Precision Industry Co., Ltd. (TPE:2317) and 7-Eleven Taiwan. Hon Hai previously built web-enabled TVs for 7-Eleven Taiwan and sold over 10,000 TVs in 6 weeks. These TVs were not sold in 7-Eleven stores, but they can be bought on 7-Eleven’s website. The 40-inch TV is priced at NT$2,888 ($430), the 60-inch TV costs NT$39,900 ($1,333), and the 70-inch TV costs NT$69,900 ($2,336).
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Apple’s major supplier Foxconn is reportedly ramping up to prepare for the launch of the new iPhone this fall. According to sources with Focus Taiwan, Foxconn is hiring 90,000 new workers for their Shenzhen production facility to fill the “massive orders from Apple.” These orders reportedly include the “iPhone 5S” and a new budget iPhone.
Hon Hai Precision Industry Co., Ltd. (TPE:2317) has posted Q2 2013 revenues of NT$897 billion ($30 billion), which is up year-on-year even though Apple orders have slowed down. This is a 0.6% increase from the same period a year earlier. This figure is above expectations of an average of NT$829 billion ($27.74 billion) from 13 Bloomberg analysts.
Foxconn Technology Co., Ltd. (TPE:2354), one of the top consumer electronics manufacturing companies, has reportedly hired 3,000 software engineers to work on the mobile Firefox operating system. The Firefox mobile operating system is being supported by manufacturers like Alcatel and ZTE as a way to stand out from Android. Foxconn’s new software engineers are believed to be experts in the fields of HTML5 and cloud computing.
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There are reports that the parent company of Foxconn Technology Co., Ltd. (TPE:2354), Hon Hai Precision, will be launching a branded mobile device of their own. Hon Hai’s first branded device will be powered by the Firefox OS on June 3rd, according to a report by Reuters. There is a chance that Hon Hai’s first branded device could be a tablet also.
Apple has rejected around 5-8 million iPhones from Foxconn because of quality issues, according to China Business. Apple is reportedly not paying for those phones so Foxconn will be absorbing the costs.
Microsoft Corporation will be receiving royalties from Foxconn’s parent company Hon Hai Precision Industry. The royalties provides broad coverage under Microsoft’s patent portfolio for devices that run the Android and Chrome operating system on smartphones, tablets, and TVs. The contents of the agreement are confidential. Hon Hai is one out of many companies that is paying Microsoft royalties for use of the Android and Chrome OS.