Want China Times
By: Staff Reporter
Terry Gou, chair and president of Foxconn, the world’s largest OEM supplier of consumer
electronics, announced at its shareholders’ meeting that the company is considering hold an IPO in China within three to five years, reports the Beijing News.
Foxconn is the trading name of the Taiwan-headquartered Hon Hai Precision Industry. It is best known as Apple’s chief manufacturing partner for its iPhone and iPad at its plants in China.
Gou said the quality of Foxconn’s China business will be better after the stock launch. Foxconn has already been making plans to expand into India and the IPO won’t minimize the company’s production numbers in China as the market there is booming, he said.
Foxconn Technology Group mainly produces computers, communication products and consumer electronics. The company began investing in China in 1988 and now employs over 1.2 million people. Foxconn brings in 3.5% of China’s import and export total value. [FULL STORY]