Foxconn establishes a new company in Henan Province, China, which shows the company’s determination to make inroads into the LED industry.
According to Foxconn Technology Group’s press release published on July 13, the company started new business ventures in the connector, computer case, metal stamping, power management fields. The investment totals US$146 million (NT%1.049 billion).
Foxconn’s proactive investments recently, which are almost as high as some of the component manufacturers’ capitals, can be seen as a preparation for the soon-to-be-released Apple products. Notably, the investments include green energy and LED ventures, indicating the company’s ambition to make its way into the green energy industry.
In addition, Foxconn has set up a company in Henan Province, China with a capital of US$35 million (NT$4.38 billion). Foxconn notes that the new company targets the green energy demand in China and is set to seek joint efforts with other companies to manufacture and sell LED street lamps and other green energy products.
Foxconn did not specify what sector of the LED supply chain it plans to invest in, but most people believe it is LED lighting fixtures.
Other LED companies stated that Foxconn’s previous endeavor to break into the LED industry proved unsuccessful. Whether or not the company’s second attempt will succeed remains to be seen.
Foxconn’s venture capital firm successfully landed a slot on the board of Tera Xtal Techonlogy. Foxconn has subsidiary companies in thermal dissipation and LED package fields, allowing the company to expand its businesses into the upstream sector of LED industry. Currently the company also plans to make its way into the LED street lamp market.
