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The latest update is out from Hon Hai Precision Industry ( (HNHPF) ).
Hon Hai Precision Industry Co., Ltd. announced the disposal of its shares in Phyn LLC through its subsidiary, Belkin Echo Holdings LLC, for a transaction amount not exceeding USD 24.9 million. This strategic move is intended to align with the company’s corporate strategy by divesting assets that do not fit its long-term goals. The transaction, approved by the Board of Directors, is expected to generate a profit of up to USD 18.6 million, reflecting a minor impact on the company’s total assets and equity.
More about Hon Hai Precision Industry
Hon Hai Precision Industry Co., Ltd., also known as Foxconn, is a leading player in the electronics manufacturing industry. The company is renowned for its production of electronic components and products, including consumer electronics, communication devices, and computer hardware. It serves a global market, collaborating with major technology firms to deliver high-quality manufacturing solutions.
See more insights into HNHPF stock on TipRanks’ Stock Analysis page.