Foxconn shifts attention more to car electronics
Foxconn electronics company will focus less on assembling mobile phones. Instead, the Taiwanese company sees more perspective in producing modern electronics for the automotive industry, such as systems for self-driving cars. That is what the Japanese business magazine Nikkei Asian Review writes.
FIH Mobile subsidiary, which is 62 percent owned by Foxconn, achieves 90 percent of its revenue by assembling phones. However, the company has decided to deploy staff and production resources for a new car project. Foxconn had previously indicated that it wanted to focus on a broader market, including the automotive sector and healthcare now that the demand for mobile phones is declining.
According to an initiate, FIH no longer has as many orders to build phones for customers as Google, Xiaomi, Lenovo, Nokia and Meizu. Moreover, the company only earns money from Google’s orders.