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Asia300

Foxconn plots $4bn automation push as labor costs bite

Major iPhone assembler to fund upgrades with proceeds from IPO of core unit

Hon Hai Precision Industry's business model long relied on having large numbers of workers handle the often delicate work of electronics assembly.   © Reuters

TAIPEI -- Hon Hai Precision Industry will use the planned listing of a key Chinese unit to bankroll efficiency-boosting automation investments as sinking profits force it to rethink its old labor-heavy model.

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