Foxconn looks to branch out, reduce reliance on Apple
The company is reportedly considering bringing software offerings to the devices it makes, as well as expanding the kind of products it makes.
Foxconn, the company that has become best-known for working with Apple to produce iPhones and iPads, is looking to dramatically expand its product services, according to a new report.
As Apple's product shipments start to slow, Foxconn, which produces the company's mobile products, has decided that it's looking to move into media content and software, as well as electronics accessories, the Wall Street Journal reported Tuesday, citing people who claim to have knowledge of its plans.
In an interview with the Journal, a Foxconn executive said the company needs to "actively expand our client base to help increase our manufacturing volume." The executive didn't say specifically which clients the company will be targeting.
Foxconn is by no means tied to Apple. The company works with a wide range of companies, including Hewlett-Packard, Sony, and Nokia. Samsung has also played an integral role in the company's business.
Looking ahead, though, Foxconn would like to play a slightly different role in the world of manufacturing, the Journal's sources say. Foxconn has hired software engineers to create programs that could sit atop the products it develops. Foxconn is also looking to make an electronics accessories line.
Despite those plans, Foxconn still needs to play nice with Apple: the iPhone maker represents 50 percent of its business.