Hon Hai Precision Industry plans alliances with Japan’s Sharp Corp. and others and unveiled plans for further international expansion, as the contract manufacturer behind Apple and other technology brand names looks to offset rising labor and expansion costs, reports the “Wall Street Journal” (http://macte.ch/yxjrg).
Chairman Terry Gou, told reporters after the annual shareholders meeting in Taipei on Wednesday that Hon Hai wasn’t going to build its own brand, but would instead look to grow through technological prowess.
“We are a high-tech manufacturer, not a traditional contract maker,” he said. “We will not give up the manufacturing business. Global players are giving up this market so there are plenty of opportunities left for us.”