The Foxconn Group (Hon Hai), after seeing its business transformation and diversification efforts gradually paying off, expects Internet Plus applications to fuel its next wave of business development, according to market sources.
Despite its major subsidiary FIH Mobile suffering expanded losses due to weak mobile device shipments to major vendors, Foxconn saw other subsidiaries perform well in 2018, such as Foxconn Interconnect Technology (FIT) posting annual profit growth of 29.4% and Foxconn Industrial Internet (FII) scoring a 6.52% increase in earnings in 2018.
Compared with the group’s earlier development of robots, the sources said, Foxconn’s investment in Internet Plus industrial applications is expected to inject new growth momentum for it to transform into a technology service group…
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