Foxconn Technology Group announced yesterday that it was suing a trio of Japanese companies in a US court for alleged patent infringement, in a sign that the maker of Apple iPhones and iPads is moving aggressively to monetise its growing technology base.

The suit against Toshiba Corporation, Funai Electric Company, and Mitsubishi Electric Corporation comes as Terry Gou, Foxconn’s chairman, asked shareholders to be patient while the company diversified its revenue sources, with plans to invest in new businesses such as car electronics and cloud computing.

The lawsuit highlights how Foxconn, also known as Hon Hai Precision Industry, is looking to make money from its growing inventory of patents, related to its electronics manufacturing business. The patents in question cover flat screen displays used in televisions, monitors, notebooks, tablets and smartphones.