Foxconn unit to focus on R&D

Firm upgrading industrial internet application to offer integrated solutions

Foxconn Industrial Internet Co Ltd, a subsidiary of the world's largest contract manufacturer Foxconn Technology Group, will ramp up efforts to upgrade the application of its industrial internet based on cloud computing, the internet of things, big data and artificial intelligence, and will increase investment in research and development.

The company said on Monday evening that its revenue reached 158.99 billion yuan ($23.1 billion) in the first half of this year, an increase of 16.29 percent year-on-year. Net profit hit 5.44 billion yuan, up 2.24 percent compared with same period last year.