Foxconn Looks to Diversify With Investment in South Korea's SK Group

Advertisement
By Agence France-Presse | Updated: 30 June 2014 12:42 IST
Taiwan technology giant Foxconn, the world's biggest components maker, said Monday it has invested around $365 million in a South Korean information technology service provider as it looks to diversify its business.

The firm, also known by its Taipei-headquartered mother company Hon Hai Precision Industry, said the deal allowed it to obtain a 4.9 percent stake in SK C&C Co., a unit of South Korea's third largest conglomerate SK Group.

"This transaction is a win-win strategic partnership for both of our companies as it brings together a unique combination of capabilities to create synergies that will benefit current operations while also supporting efforts to jointly develop new business opportunities," Hon Hai said in a statement.

In the face of growing competition and narrowing margins, Foxconn has been diversifying its businesses into other fields, among them providing 4G telecom services in Taiwan.

Advertisement

Hon Hai is the world's largest computer components manufacturer and assembles products for Apple including the iPhone as well as Sony and Nokia.

The group employs about a million workers in China, roughly half of them based at its main facility in the southern city of Shenzhen.

Advertisement

The group has production facilities in more than 10 countries, including Vietnam, Brazil and Mexico.

 

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Foxconn, Hon Hai
Advertisement

Related Stories

Popular Mobile Brands
  1. Vivo Confirms OriginOS 6 Update Schedule in India: See Release Timeline
  2. Kantara: A Legend Chapter-1 Lands on Amazon Prime Video Soon
  3. OnePlus 15 Confirmed to Debut in These Three Colourways
  4. Red Magic 11 Pro Series With Liquid Cooling Launched at This Price
  5. Motorola G67 Power 5G Visits Geekbench With This Snapdragon Chipset
  6. OnePlus Pad 2 With Dimensity 9400+ SoC to Launch Alongside OnePlus 15
  1. Vast Space to Launch Haven-1, the World’s First Private Space Station in 2026
  2. Atmospheric Carbon Dioxide Soars to 424PPM, Marking Biggest Yearly Jump Ever
  3. Black Hole Tears Star Apart, Sends Out Powerful Flares Six Months Later
  4. Shakthi Thirumagan OTT Release: When, Where to Watch Vijay Antony-Starrer Action Thriller Online?
  5. Former Assassin's Creed Boss Says He Was Asked to 'Step Aside' by Ubisoft
  6. Arshad Warsi's Bhagwat Chapter 1: Raakshas OTT Release: Everything You Need to Know About This Thriller
  7. Vivo Confirms OriginOS 6 Update Rollout Schedule in India: Check Full Release Timeline
  8. Huawei Nova Flip S Launched With 4,400mAh Battery, 2.14-Inch Cover Screen: Price, Features
  9. The Fantastic Four: First Steps Reportedly Set for OTT Debut Soon: All You Need to Know
  10. Huawei Nova 14 Vitality Edition Launched With 5,500mAh Battery, 50-Megapixel Selfie Camera: Price, Specifications
Gadgets 360 is available in
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2025. All rights reserved.