Menu
Foxconn to enter information security realm with joint venture

Foxconn to enter information security realm with joint venture

Foxconn and Korea's SK C&C will establish a joint venture in May

Foxconn Technology Group isn't satisfied with just making iPhones, and plans to break into the information security market through an upcoming joint venture.

On Thursday, the Taiwanese manufacturing giant announced it would set up in May a joint venture with Korea's SK C&C, an IT services provider, to develop information security systems for the Chinese market.

The venture will be based at one of Foxconn's factories in China, where it has hired over a million workers to assemble electronics for vendors that include Apple, Microsoft and Sony.

Electronics manufacturing has long been the core business of the company. Business from Apple is estimated to contribute 40 to 50 percent of Foxconn's revenue.

Foxconn, however, wants to move beyond contract manufacturing, and target new opportunities emerging in the tech industry.

Last June, company CEO Terry Gou said it would expand into cloud computing, networking technologies, in addition to robots and electric cars.

Earlier this week, Foxconn struck another partnership with Chinese Internet giant Tencent to develop Internet-connected electric vehicles. Gou said he hopes to make cars priced lower than US$15,000.

Thursday's deal with SK C&C will also involve the two companies working together on healthcare, finance and improving manufacturing processes, Foxconn said in a statement.

SK C&C already provides IT services in a wide-range of sectors, including telecommunication, finance, energy and logistics among others. In June, Foxconn bought a 4.9 percent stake in the Korean company for about $370 million.


Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags business issuesservicesFoxconn Technology Group

Featured

Slideshows

Sizing up the NZ security spectrum - Where's the channel sweet spot?

Sizing up the NZ security spectrum - Where's the channel sweet spot?

From new extortion schemes, outside threats and rising cyber attacks, the art of securing the enterprise has seldom been so complex or challenging. With distance no longer a viable defence, Kiwi businesses are fighting to stay ahead of the security curve. In total, 28 per cent of local businesses faced a cyber attack last year, with the number in New Zealand set to rise in 2017. Yet amidst the sensationalism, media headlines and ongoing high profile breaches, confusion floods the channel, as partners seek strategic methods to combat rising sophistication from attackers. In sizing up the security spectrum, this Reseller News roundtable - in association with F5 Networks, Kaspersky Lab, Tech Data, Sophos and SonicWall - assessed where the channel sweet spot is within the New Zealand channel. Photos by Maria Stefina.

Sizing up the NZ security spectrum - Where's the channel sweet spot?
Show Comments