Foxconn top dog's brother to open 100 Apple stores

The brother of Foxconn’s head honcho is to open 100 Apple stores in China, Hong Kong, and Taiwan, according to Bloomberg Businessweek.

T.C. Gou owns a Taipei-based company called Cheng Uei Precision Industry which manufactures handsets for Huawei Technologies and provides some components to Apple and Microsoft for their products. Cheng Uei already has more than 20 Studio A Apple reseller stores and now plans to add another 100 throughout Greater China over the next three years. 

Cheng Uei’s shares rose 6.9 percent after the news, even though its current Apple stores have contributed less than one percent of the company’s revenues. Gou refused to forecast how well he believes the new stores will perform.

Gou’s older brother is Terry Gou, CEO of the infamous Foxconn, which has gained news notoriety over the last few months with a spate of employee suicides. Terry Gou is also broadening his company’s scope to sell products as well as manufacturing them, and his younger brother is keen to follow in his footsteps.

“He’s following the same strategy as his older brother,” Lu Chia-lin of Macquarie Group told Bloomberg. “The rationale is since they help make the products, they can also help sell them.” Macquarie Group rates Cheng Uei as an under performing company.