Hon Hai Precision, better known as Foxconn, is planning to invest $4 billion into increasing the amount of robotics and automation technology used in its factories, according to a report on Nikkei.
The business news website says Foxconn’s profits are coming under pressure because of rising labour costs.
Foxconn, a Taiwan-headquartered company with extensive operations in China and around the world, is the main contract manufacturing partner for Apple, and makes the US tech giant’s iPhones and other devices. [Read more…] about Foxconn to invest $4 billion in new robotics and automation technology