Huawei Foxconn sign $2 billion trade deal

Published on July 20, 2011 by connie | This story has been viewed 1,378 views

Huawei, a leading global information and communications technology (ICT) solutions provider based in China, and Hon Hai Group (Foxconn), a Taiwan-founded company, signed a Memorandum of Understanding (MOU) on Tuesday, which will bring Foxconn a purchase order of $2 billion (NT$57.8 billion) by the end of 2013.

Huawei is expected to purchase different kinds of communication products from Foxconn ranging from printing circuit board (PCB), terminal equipments to the whole integrated devices, with the trade effected from 2011 to 2013, said Terry Cheng, Vice President of Foxconn on the signing ceremony organized by Taiwan External Trade Development Council.

Huawei also signed an agreement with Baiyi Electronics Co., Ltd, an original equipment manufacturer in Taiwan, to buy Set-Top Box (STB) and WiMax products worth $400 million from the company in the future three years.

Wu Hunhong, Vice President of Huawei said, Huawei made purchase from hundreds of Taiwan manufacturers with the value up to NT$ 99.5 billion in 2010, and it’s expected the purchase value will increase by over 10% to NT$110 this year.

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