Foxconn steps up hiring, moves away from manufacturing

Taiwanese manufacturer Hon Hai Precision Industry is hoping to hire an additional 15,000 employees this year in order to expand contracts and pursue new growth avenues.

Hon Hai, also known as Foxconn, is a component supplier for tech giant Apple's iPhones and iPads. However, according to the Wall Street Journal, the manufacturer is looking to expand its operations beyond product assembly and explore the growth possibilities offered by software development and telecommunications services.

In a statement over the weekend, Foxconn said it plans to hire an additional 15,000 employees in Taiwan over the course of the year, and will focus on the telecommunications, e-commerce, biotechnology, automation, software and hardware development industries -- hiring engineers and other skilled workers in order to branch out beyond component assembly in the face of rising labor costs in China.

The news comes as Foxconn prepares to launch its new 4G network in Taiwan next year after securing fourth-generation spectrum licenses in 2013.

Foxconn is not the only firm to undertake such a hiring spree in Taiwan -- the company's major client, Apple, has also recently ramped up recruitment in the country as well as China, hiring hundreds of new engineers and supply-chain managers in order to speed up product development.

According to reports, the Cupertino, Calif.-based firm is setting the groundwork for faster and more frequent product releases, and the hire of additional supply-chain managers is meant to boost factory conditions and better monitor suppliers.

Foxconn has over one million employees in China and just under 50,000 in Taiwan.