Hon Hai Precision Industry Chairman and CEO Terry Gou says that his company's profits will "surpass last year's," in part by spinning off its connector business.
Hon Hai Precision Industry is reportedly considering spinning off its connector business that is the second half of the "Foxconn" brand.
The Chinese electronics manufacturer plans multiple devices, including tablets and phones, as part of a strategy to supply software and services along with hardware.
Best known as a supplier to tech players like Apple, the Taiwan-based company is setting up a new R&D center to build up its display business, says Reuters.
Move is part of Apple's desire to achieve greater balance in its supply chain, according to The Wall Street Journal.
The company is reportedly considering bringing software offerings to the devices it makes, as well as expanding the kind of products it makes.
The two companies invite the press to the unveiling of a new device on June 3, which has rumors flying that a tablet running Firefox OS may be on the horizon.
The software giant says it now has patent deals with companies that make 80 percent of Android phones sold in the United States and a majority of those sold worldwide.
In exchange for unspecified royalties, Microsoft agrees not to sue the parent company of the world's largest hardware maker for devices it produces that run Google's Android and Chrome operating systems.
The Apple supplier has added around 10,000 more people since late March in anticipation of the next iPhone, says the Wall Street Journal.
Taiwan company draws 60 percent to 70 percent of its revenue from assembling iPhones and iPads and working on other Apple products.
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