鴻海, better known as Hon Hai or Foxconn, Hon Hai Precision Industry Co. Ltd, trading as Hon Hai Technology Group in China and Taiwan, and known as Foxconn Technology Group internationally, is a Taiwanese multinational electronics contract manufacturer established in 1974 with headquarters in Tucheng District, New Taipei City, Taiwan. In 2023, the company's annual revenue reached 6.16 trillion New Taiwan dollars (US$192 billion) and was ranked 20th in the 2023 Fortune Global 500. It is the world's largest contract manufacturer of electronics[1]. While headquartered in Taiwan, the company earns the majority of its revenue from assets in China and is one of the largest employers worldwide[2][3]. Terry Gou is the company founder and former chairman.
History[]
Terry Gou established Hon Hai Precision Industry Co., Ltd. as an electrical components manufacturer in 1974 in Taipei, Taiwan. Foxconn's first manufacturing plant in Mainland China opened in Longhua Town, Shenzhen, in 1988[4].
2001[]
One of the important milestones for Foxconn occurred in 2001 when Intel selected the company to manufacture its Intel-branded motherboards instead of Asus. By November 2007, Foxconn further expanded with an announced plan to build a new US$500 million plant in Huizhou, Southern China[5].
2012[]
In January 2012, Foxconn named Tien Chong (Terry) Cheng chief executive of its subsidiary FIH Mobile Limited[6]. At this time, Foxconn made up approximately 40% of worldwide consumer electronics production[7].
Expansion was further pursued after a March 2012 acquisition of a 10-percent stake in the Japanese electronics company Sharp Corporation for US$806 million and to purchase up to 50 percent of the LCDs produced at Sharp's plant in Sakai, Japan. However, the agreed deal was broken as Sharp's shares continued to plunge in the following months. In September 2012, Foxconn announced plans to invest US$494 million in the construction of five new factories in Itu, Brazil, creating 10,000 jobs.
References[]
- ↑ https://www.reuters.com/technology/foxconn-aims-double-jobs-investment-india-over-next-12-months-2023-09-17/
- ↑ https://www.nytimes.com/2016/12/29/technology/apple-iphone-china-foxconn.html
- ↑ https://www.weforum.org/agenda/2015/06/worlds-10-biggest-employers/
- ↑ https://www.wsj.com/articles/SB118677584137994489
- ↑ https://www.reuters.com/article/idUSHKG30408220071122/
- ↑ https://web.archive.org/web/20140529051400/http://circuitsassembly.com/cms/news/13048-foxconn-ceo-to-resign
- ↑ https://www.nytimes.com/2012/01/22/business/apple-america-and-a-squeezed-middle-class.html