SHANGHAI (AP) — Foxconn Technology Group, the world’s biggest assembler of consumer electronics, has begun work on a Shanghai headquarters that it says will help spearhead its efforts to sell more in the China market.
Foxconn, owned by Taiwan’s Hon Hai Precision Industry Co., broke ground for its new, 80,000 square meter (861,120 sq. feet) “crystal box” center in Shanghai’s prime Lujiazui financial district on Thursday.
Foxconn, which assembles about 40 percent of the world’s electronics, mainly produces name brand products such as Apple iPhones for export.
Company chairman Terry Gou said the aim was to build better, cheaper products that would be affordable for ordinary Chinese.
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