May. 10, 2012 (China Knowledge) – Taiwan-based Foxconn Technology Group, the parent company of Foxconn International Holdings Ltd <2038>, the world's largest electronic component contractor and Apple Inc's principal parts supplier, plans to build its China headquarter in Shanghai.

The new headquarter which will be completed in early 2015 will comprise research, development and sales department. It will also act as the company's e-commerce business center in China.

The groundbreaking ceremony will take place today.

Currently, Foxconn hires over 1.2 million employees in China. Last year, the company saw its operation revenue declined 4.1% year-on-year to US$6.35 billion with a net profit of US$72.84 million.

The electronic component contractor is expanding its development scale by investing in retail business with both physical and online stores.