Foxconn recently spoke about some of its plans to become less dependent on iPhone assembly orders, and one of the company’s biggest initiatives is off to a good start …
The company has gone public with its smart factory and cloud computing division, Foxconn Industrial Internet (FII).
The company listed on the Shanghai stock exchange, and Bloomberg reports that its share price immediately soared to make it the most valuable tech company in China.
The 44% limit is set by the stock exchange to reduce market turbulence, suggesting that the stock may yet climb higher. Shared were 290 times over-subscribed.
FII offers a range of manufacturing robots, including the Foxbot arms it uses on Apple production lines, all the way through to fully automated factories.
Analysts said that belief in the company was strong as a result of confidence in Foxconn chairman Terry Gou and the establishment of strategic partnerships with ecommerce company Alibaba, search engine Baidu and online services provider Tencent.
