Foxconn Technology Group, a major electronics contract manufacturer for companies including Apple Inc., is also known as a leader in China’s business-to-business e-commerce arena in terms of the total volume of products and materials bought and sold online. Now it’s expanding even further into B2B e-commerce with the introduction this week of FoxconnMall.com.
Foxconn, the trade name for Hon Hai Precision Industry Co., launched FoxconnMall as an online marketplace where buyers can research, compare and purchase products, materials and services from multiple China-based suppliers, according to a report issued by China’s Central News Agency. Contacts at Foxconn did not immediately return requests for such additional information as FoxconnMall’s number of buyers and sellers or how it charges fees to marketplace participants.
FoxconnMall is presenting products, materials and services across 16 categories, including equipment used in manufacturing processes, molds and parts used in fabricating products, and chemicals and other materials. Services available on the marketplace include engineering, financial and insurance. The marketplace also provides sellers with the ability to display products with 3D-rendered images. FoxconnMall will be operated by a new Hon Hai subsidiary based in Shenzhen, a city near Hong Kong.
Foxconn has already been cited by China’s National Bureau of Statistics as the country’s largest in the value of total e-commerce transactions, including what it has purchased and sold online. The most recent figures from the National Bureau of Statistics noted that Foxconn subsidiary Futaihua Industrial (Shenzhen) Co., booked 349.2 billion yuan (US$57.58 billion) in transactions in 2012.
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