According to reports in Taiwanese local media, Hon Hai Precision Industry's board of directors has decided to enhance investment in e-books and 3C retail channel construction in mainland China.
The company will invest a total amount of USD33.26 million in five projects, including the investment of USD1.587 million in the mold production and sales company Wuxi Xinguan Metal Science & Technology; the investment of USD646,000 in Yantai Zhengyi Precision Electronics, a company engaged in the LCD, mold, and plastic products businesses; and the investment of USD19.03 million in Hongqisheng Precision Electronics (Qinhuangdao) engaged in printed circuit board business.
In addition, Hon Hai announced plans to invest USD10 million to set up a new company named Shanghai Anxingou Trade Company in mainland China for the 3C and home appliances retail channel market. The term 3C refers to computers, communications and consumer electronics.
Hon Hai previously distributed in the mainland retail channel market via its subsidiary Pan-International, which invested in the mainland 3C retail chain Cybermart.