Apple's manufacturing partner and Taiwanese electronics giant, Hon Hai has sold more than 10,000 web-connected TVs in Taiwan via 7-Eleven stores. The whole effort has paid off well in the form of profits. And now the company is spreading its wings in takeoff mode as shown intentions to make smartphones and tablets for 7-Eleven stores through Foxconn.
Originally, Hon Hai manufactured web-based television sets for 7-Eleven stores in Taiwan. Over 10,000 TVs got sold out in a matter of one and half months. Now the company is looking towards selling smart phones and tablets at the selfsame venue. The televisions were not available at the stores in actuality. Rather the website of the 7-Eleven stores served as the point of sale for these television sets that sold like hotcakes. The 40 inch TV sells for $430. The 60 inch version costs around $1333. And as for the 70 inch monster-sized TV, it comes at an affordable $2336. The statistics go in favor of Hon Hai. And it is further diversifying into other products.
The partnership with 7-Eleven has been a tonic for Hon Hau. It has invigorated the company and acted as a stimulant. The future meanwhile lies wide open for Hon Hai. Hon Hai aka Foxconn is the manufacturing agent and sidekick of Apple Incorporated. It used to create for others in the past. But now for the first time it is making its own products and giving them the 7-Eleven brand label. While the ripple in sales has no effect on Sony, LG or Samsung, nevertheless it shows that things are looking up for Hon Hai. The sweet smell of success is wafting near its premises. And its ambition knows no bounds.
Capital Securities analyst Diana Wu told WSJ, “The main reason behind Hon Hai’s effort to make more large-screen TVs through partnerships with new brand customers is to find outlets for Sharp’s large panels made in the Sakai plant. I believe that Hon Hai wants to prove to Sharp that it can help turn around the Japanese company’s operation, hoping Sharp would welcome Hon Hai’s stake investment ultimately.”