Gadget Giant's Evolution: Make, Then Sell
Hon Hai Precision Industry Co., whose Chinese factories produce many of the world’s most popular electronics products, including iPads and iPhones is making a push to sell gadgets in China’s own fast-growing consumer market.
Starting later this year, Hon Hai plans to open at least 10 large electronics stores in the Shanghai area by the end of 2011, under a partnership initiated last year with Germany retailer Metro AG. Louis Woo, the senior Hon Hai executive in charge of the retail push, outlined the plans in an interview.
Hon Hai also intends to open 45 to 50 branches of Cybermart, a small retail chain it purchased a decade ago but which has seen little growth. Cybermart currently operates 34 stores in 20 Chinese cities.