Alexa
  • Directory of Taiwan

Hon Hai speeding up e-commerce development

Hon Hai speeding up e-commerce development

Taipei, June 7 (CNA) Taiwan's Hon Hai Precision Industry Co. (??), the world's largest contract electronics maker, is accelerating its efforts to develop its e-commerce platform, as part of a plan to expand into businesses other than manufacturing. Hon Hai, also known as Foxconn Technology Group, announced May 25 that its subsidiary Hongfujin Precision Industry (Shenzhen) Co. had acquired an import company, Shenzhen Fuxuntong Trading. The announcement of the 80 million Chinese yuan (US$12.9 million) investment came the day after Hon Hai's FoxconnMall.com, a one-stop business-to-business e-commerce portal, went online. The company's 3C retail website Flnet.com also recently began operations in China and Taiwan, selling mainly handsets, tablets, television sets and other digital products. Hon Hai said it is now offering a variety of financial services such as third-party payments in China, via its e-commerce platform. The Hon Hai platform is integrated with Alibaba Group Holding Ltd.'s Alipay, Tencent Holdings Ltd.'s Tenpay, 99Bill Corp.'s electronic payments and China Mobile Ltd.'s phone-based payment services. Hon Hai, a major supplier to Apple Inc., said it is aiming to transform into a provider of technology services and trade businesses by building its own e-commerce platform, which will allow for forecasts of user demand based on the analysis of data obtained from a wide range of connected devices. In recent years, Hon Hai has been seeking to expand beyond its core manufacturing business, and it has established footholds in markets such as cloud computing, mobile broadband, Internet of Things, Big Data, and smart home appliances, in anticipation of "Industry 4.0," which emphasizes smart automation in manufacturing. In its sweeping strategy, the New Taipei-based conglomerate has been giving priority to technology services and solutions and the integration of manufacturing, distribution and retailing. (By Jalen Chung and Jeffrey Wu)


Updated : 2021-09-25 14:24 GMT+08:00