Foxconn has won two of Taiwan’s newly issued licences for building a 4G telecommunications network, as the group famous for making iPhones continues to diversify from its core contract manufacturing business.
Entering the telecom business is a highly unusual move for an electronics manufacturing company that brings risks, analysts say. The industry can be capital intensive and Foxconn, also known as Hon Hai Precision Industries, has little background in building such networks.
The contract electronics manufacturer has thrived for years on high-volume but low-margin manufacturing work, but is struggling with the rising cost of labour in China.
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