Date
19 November 2017
Foxconn chairman Terry Gou hopes to take on e-commerce players such as JD.com with a new Chinese online marketplace. Photo: Bloomberg
Foxconn chairman Terry Gou hopes to take on e-commerce players such as JD.com with a new Chinese online marketplace. Photo: Bloomberg

Foxconn makes e-commerce foray in China

Foxconn group, the world’s biggest contract electronics manufacturer, has made an e-commerce foray in China, the Wall Street Journal reported.

The Taiwan-based group has launched a trial site, flnet.com, for an online marketplace to sell electronics, the report said.

The e-commerce operation, which is based in Shanghai, is said to be headed by Iris Yu, a former executive at California-based online computer products retailer Newegg.com. 

The new platform is offering accessories as well as consumer electronics from a variety of brands, ranging from Apple’s iPhones to Lenovo’s laptop computers, the report said.

Foxconn has turned to e-commerce after it failed to make significant inroads into the retail market with its own brick-and-mortar stores in China.

After closing its Chinese electronic stores in 2013, the company began recruiting talent with an e-commerce background, sources were quoted as saying.

Chairman Terry Gou’s goal for the new online marketplace is to beat sales at China’s second-largest e-commerce platform, JD.com, in three years, according to the report.

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