Foxconn Looking to Become a Wireless Carrier
Foxconn, Apple's well known manufacturer of different mobile devices is reportedly looking into become a wireless carrier. Foxconn is the world's largest contract manufacturer of electronics.
The Wall Street Journal is reporting that Foxconn's parent company Hon Hai has submitted an application for a fourth-generation high-speed mobile spectrum license in Taiwan. Currently Taiwan's carriers only offer 3G services.
Hon Hai's statement comes after the National Communications Commission said late Monday it is reviewing the qualifications of seven applicants, including Hon Hai unit Ambit Microsystems Corp. The telecom regulator said in a statement that it will announce the list of qualified bidders by the end of August, before a spectrum auction in September. Ambit Microsystems makes routers, modems and wireless products.
The company is reportedly trying to invest in more high-margin businesses because it has found that manufacturing electronics is not "as profitable" as it has been in the past years.
Read More via BGR