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Foxconn looks to parts as new growth engine

Sales setback drives pursuit of a new way forward

Foxconn Chairman Terry Gou

TAIPEI/OSAKA -- Taiwan's Hon Hai Precision Industry is seeking new angles to reignite growth, with intensifying competition and surging labor costs in China having brought the iPhone assembler its first revenue decline in 26 years.

The search is moving the company known as Foxconn upstream in its business chain, toward high-margin components.

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