Why Hon Hai Precision Industry (HNHPF) Stock May Move Higher Today

NEW YORK (TheStreet) -- Hon Hai Precision Industry Co., Ltd. (HNHPF)  is reportedly in talks to make smartphones for a Chinese photo-editing application developer, as the assembler of Apple (AAPL) products looks to expand its customer base, according to the Wall Street Journal.

The company is also known as Foxconn Technology Group.

Hon Hai Chairman Terry Gouon Hai told shareholders at an annual meeting today that talks are under way with Xiamen Meitu Technology Co. Ltd. The Chinese company has developed an application popular among China's selfie-takers called "Meitu," the Journal reports.

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