Hon Hai unit to team up with NXP on industrial Internet development

Taipei, Foxconn Industrial Internet Co. Ltd. (FII), an Internet-focused subsidiary of Taiwan-based manufacturing giant Hon Hai Precision Industry Co., said Tuesday it will work with NXP Semiconductors Ltd. of the Netherlands on the development of an industrial Internet system.

NXP has agreed to provide artificial intelligence technology and solutions to help FII set up an advanced industrial Internet platform, FII said in a statement.

The two companies will work together to build an industrial Internet ecosystem, which is expected to help FII’s business clients achieve smart production and management, which in turn will boost their competitiveness, the Hon Hai subsidiary said.

FII said it is speeding up its adoption of new technologies such as cloud computing, the Internet of Thing, big data, AI, high speed communications networks and robots, which will be applied to the development of the industrial Internet system.

FII is part of the efforts of Hon Hai, also known as Foxconn in the global market, to integrate its hardware production business with software development so that it is not defined simply as a contract electronics maker.

In early June, FII launched an initial public offering (IPO) on the Shanghai Stock Exchange, after which Hon Hai retained roughly an 85 percent stake in the subsidiary.

In the first half of this year, FII posted 158.99 billion Chinese yuan (US$23.28 billion) in consolidated sales, up 16.29 percent from a year earlier, and a 2.24 percent year-on-year increase in net profit to 5.44 billion yuan, with earnings per share of 0.3 yuan.

Source: Focus Taiwan News Channel