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Hon Hai increases stake in Taiwanese MNO, adding MNO to its list of roles

Hon Hai Precision Industries, parent of the world’s largest contract manufacturer, Foxconn, has been diversifying its business for several years now, seeking higher margins in a range of lateral moves, from chipmaking to own-branded devices to mobile services. Its latest move is to increase its stakeholding in Asia-Pacific Telecom (APT), the smallest MNO in Foxconn’s native Taiwan, from 19.7% to 40.7%. It will pay NT$10bn (US$328m) for the additional stake in APT. This is part of the company’s push to leverage 5G’s broadening ecosystem to pursue new commercial opportunities, reducing its reliance on a few key manufacturing customers, notably Apple. iPhone manufacturing has been a lucrative business for Foxconn – one of its factories in China, which employs 350,000 people,…

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