Foxconn has come a long way from contract manufacturing and being best known as the iPhone maker, and is poised to become a powerhouse in emerging technologies, including 5G. Electronics manufacturing is still the heart of the business for its parent, Hon Hai Precision Industry of Taiwan, but in recent years, the firm has been looking for higher growth, higher margin businesses to offset competitive pressures in manufacturing and the slowdown in the smartphone sector. As a result of that quest, it has diversified through a series of investments and acquisitions, and is now looking to invest heavily in new areas like 5G. One of Hon Hai’s units, Foxconn Industrial Internet, aims to use the proceeds of an IPO in…