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Hon Hai’s bid to be less reliant on Apple is becoming urgent

Another organization which is far too reliant on Apple’s favors is Foxconn, the contract manufacturer owned by Hon Hai Precision Industry of Taiwan. The company has been making radical moves over the past few years to diversify its business and become less dependent on deals to make iDevices, and its recently released fourth quarter 2017 results show that these changes can’t come too soon. Hon Hai’s figures were hit by the delayed launch, last year, of the Apple iPhone X, indicating how the Taiwanese firm’s fortunes remain too closely tied to those of its largest customer. Analysts said that, were it not for a one-time gain of $2.2bn from selling shares in Sharp, this would have been Hon Hai’s worst…

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