Apple Supplier’s IPO Has Shiny Shell, Low-Tech Core

apple suppliers ipo has shiny shell low tech core
Apple Supplier’s IPO Has Shiny Shell, Low-Tech Core

Metal shells and internal frames of iPhones are the mainstay of FII’s revenue, while industrial robots barely contribute. What’s more, the spinoff from Hon Hai Precision Industry Co. is deeply reliant on Apple Inc., garnering 20 percent to 30 percent of revenue from Cupertino. As Bloomberg’s Debby Wu wrote, Gou’s FII is “a division that best embodies his hope of becoming a major player beyond just cranking out iPhones.” By listing the business in Shanghai, Foxconn wants to tap into richer valuations from Chinese investors at a time when shares in Taipei-traded parent Hon Hai are struggling to rebound after a 34 percent slide from their peak in June.

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Author: HEDGE

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