iPhone 8 hype made Foxconn the unlikely winner of the smartphone wars
But you'd be forgiven for not knowing the company is far from just an iPhone manufacturing facility – its clients list right now includes Huawei, Xiaomi, Sony, HP, and many more, and it's constantly growing bigger. The company is set to open a US display factory in the near future, along with another one in Shenzhen, China. It also recently acquired Sharp Corp., the struggling Japanese electronics maker, and tripled its value practically overnight. And really, most of it is thanks to the iPhone – Apple devices account for half the company's revenue, and following Apple's last quarterly earnings report, Foxconn's shares have skyrocketed.
In the immediate future, net income for the company could fall by as much as 13 percent, but estimates of the iPhone 8's success show that figure could easily rebound near its current value. In the long term, PC and mobile markets are slowing down, which could prove to be problematic for Foxconn, but recent investments in VR and artificial intelligence could prove to be successful new ventures for the manufacturer. Robotics are also an unexplored frontier, which the company appears interested in, following its stated desire to fully automate its factories.
source: Bloomberg
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