Foxconn Industrial Internet is planning to go public, and their IPO is expected to launch on May 24. Foxconn Industrial Internet, a subsidiary of the world`s largest contract manufacturer Foxconn, said it plans to raise $4,3 billion which is the biggest Chinese IPO in about three years.
With ten percent of its enlarged capital offered in the IPO, Foxconn industrial Internet would have a valuation of $42,62 billion at listing, and the Foxconn unit is offering 1,97 billion shares at 13,77 yuan per share on the Shanghai stock exchange.
Foxconn are making electronic devices, cloud service equipment and industrial robots, and they has signalled previously that they will launch projects in areas including manufacturing, industrial internet, cloud computing, and fifth-generation wireless technologies.
I said in one of my recent articles that smartphones will not be the big thing for the next hundred years. It doesn
t stop here. This is probably why Foxconn want to go public, because most of its revenue is coming from Apples iPhones.
R&D is expensive but going public will give Foxconn more opportunities to expand into more cutting-edge technology. Will the Taiwanese company make the next generation of phones? Time will show.
Foxconn are making smartphones and cloud computing equipments and robots today, but what they want is to spend their 27 billion yuan to fund projects like artificial intelligence (AI) and fifth-generation wireless technologies.
Hon Hai Precision Industry Co will with its automated factory division give the company a better position in the tech supply chain.
The next generation of phones can become a part of us, and that intelligent operation systems will make us question what it truly means to be human.
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