Foxconn continues to look for ways to diversify its offerings and lessen its dependence on assembling Apple products, as it has submitted an application for a 4G high-speed mobile spectrum license in Taiwan.
The bid by Foxconn — also known as Hon Hai Precision Ltd. — will put the company in the running with six other applicants, according to The Wall Street Journal. Taiwan’s National Communications Commission will review the list of bidders in August before auctioning off 4G spectrum in September.
Foxconn assembles the majority of Apple’s products, and while the partnership has proven financially rewarding for the company, boosting its profits to $3.2 billion last year, fears of a maturing high-end smartphone market that will see profits in sector flatten or even fall, have led the Taiwanese company to seek other revenue streams.
Foxconn has begun developing and marketing devices under its own brand name, the latest of which is a Foxconn branded smart watch that is compatible with the iPhone and other bluetooth capable devices.
The iPhone builder also announced in May that they were collaborating with Mozilla on a line of devices that would run the Firefox OS.