The taiwanese group, Foxcon is considering to enlarge solar operations
Foxcon, a taiwanese electronics group, which is willing to diminish its dependence upon Apple, is said to decide by the end of the year if it would enlarge it’s solar operations.
The producer of Apple iPhones and iPads, Foxcon, is preparing an entrance into a solar sector.
The taiwanese electronic giant administrates a little solar panel factory in the east of China. In April, the factory signed a deal with SunEdison to produce 350 MW of solar modules for the company in Juarez, Mexico, at a manufacturing facility.
In spite of the arrangement, Foxcon it still considered to be testing the solar waters and yet to commit to an industry hit hard by overcapacity and falling prices. Still, if the timing is right, Foxcon could profit from this entrance into the sector, as market analysts predict.
The electronic group is willing to decide about it’s entrance by the end of the year, as Reuters announced. The company has the opinion that “renewable energy is a potentially good trend” but also that it was “an industry we probably need to know more about”, in Foxconn’s spokesman words, Simon Hsing.
Foxconn didn’t report its investment in solar, but Reuters disclosed the fact that that with $22.7 billion in cash on its balance sheet as of March, the firm could easily expand in into the field.
Moreover, Foxconn has a preliminary agreement with solar silicon producer GCL-Poly Energy Holdings to set up solar-related ventures in northern China, but the deal hasn’t paid off yet.
The company is said to be eager to diminish its trustworthiness on Apple, which accounted for aproximatly 60% of its revenue in the past year.
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