Foxconn, known as the main iPhone collector, is trying to diversify the business other than mobile technology. The new direction includes server shelves, cooling systems and uninterrupted power supplies for AI data centers. As part of the transaction, Foxconn will receive 10% of Teco shares, and Teco will have about 0.5% of Foxconn shares.
Companies said they plan to enter not only in the Asian market, but also in the US and Middle Eastern markets.
Source: Ferra
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