Foxconn may be seeking to enter the iPhone Battery Business
We reported on July 16 that Apple had signed up with a new supplier which has already solved the battery design bottleneck for Apple's larger 5.5 inch iPhone 6. The supplier who provided Apple with a flexible battery solution was Simplo. Today we've learned that Apple's largest OEM Foxconn is now planning to enter the battery business in an effort to gain more contracts from Apple.
According to a new Chinese report published today, "The cooperation between Foxconn and Anhui province is believed to be Foxconn's secret 'important project'. In fact, Foxconn made it public in an official report earlier in July. Meanwhile, according to the related report from the National Development and Reform Commission of Anhui Province, 'it is necessary for us to actively attract investment from Taiwan and especially focus on the upgrading and trace scheduling of some key project proposals for investment, including Foxconn.'
It is reported that Foxconn's new subsidiary Taiwan Lico Technology Co., Ltd has signed a contract with Anqing city, Anhui province, which is going to build high-molecular polymer battery cell and battery pack production" facility in stages. The move confirms Foxconn's desire to push further into both the production of batteries for mobile smart devices and for future electric cars.
At present, the project is still in the coordinating period after both parties signed the contract, according to China Merchants Group of Anqing Economic Development Zone. Foxconn's new company will invest $US 324 million (RMB 2.09 billion) in the project development and production in Anqing Economic Development Zone.
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