Foxconn spins out a slice of itself to fund cloud, IoT and 5G push

Foxconn spins out a slice of itself to fund cloud, IoT and 5G push

Seeks $4bn to build glorious workers palaces and diversify beyond boring old iPhones Foxconn wants to spin out part of itself, perhaps including a facilities used to build either iPhones or chips for smartmobes, so it can diversify into cloudy and 5G products. The manufacturer-to-the-stars has filed a prospectus with the Chinese securities regulator for a part-IPO of Foxconn Industrial Internet. The company said it wants the IPO to raise up to US$4 billion in can use to to invest in new projects. As well as Apple, the prospectus lists Amazon, ARRIS, Cisco, Dell, HPE, Huawei, Lenovo, NetApp, Nokia […]