Hon Hai, Apple’s biggest iPhone assembler, is eyeing cars

by Philippa Kaur 1 April 2021, 01:03 99 Views

HON HAI PRECISION INDUSTRY is as obscure as its main client is famous. On March 30th the firm, also known as Foxconn, reported record sales of $182bn in 2020, thanks to demand for the Apple gadgets it assembles. Its market value has doubled in a year, to $63bn. It is now eyeing smartphones on wheels. Analysts think it could be making 1m electric cars by 2025. If so, it may overtake Apple, whose iCar plans look less advanced.■

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This article appeared in the Business section of the print edition under the headline “Hon Hai, Apple’s biggest iPhone assembler, is eyeing cars”

Source: Business - economist.com

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Hon Hai, Apple’s biggest iPhone assembler, is eyeing cars

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