Introduction
Foxconn, officially Hon Hai Precision Industry Co., Ltd., is a Taiwanese multinational electronics contract manufacturer. It is the world’s largest manufacturer in this industry and famous for producing products for major tech companies. Its headquarters is in Tucheng, New Taipei, Taiwan. It makes devices for Apple, Microsoft, Sony, and other tech giants.
History & Milestones
Mr. Terry Gou founded Foxconn in 1974 in Taiwan. It started as a small plastics manufacturer before pivoting to electronics in the 1980s. Foxconn was listed in Taipei in 1991. Its key moments include its 2016 acquisition of Sharp, the 2021 launch of its electric vehicle platform, and recent AI factory partnerships with Nvidia.
Products & Services
Foxconn provides a diverse range of products and services listed in a tabular form below:
| Category | Products/Services |
|---|---|
| Smartphones & Tablets | iPhone, Google Pixel, Xiaomi devices |
| Computers & Laptops | MacBooks, Dell PCs, Microsoft Surface |
| Gaming Consoles | PlayStation, Xbox, Nintendo Switch |
| Semiconductors | Chips, PCBs, connectors |
| Electric Vehicles | Foxtron models, EV components |
| Cloud & AI Solutions | Data centers, smart manufacturing tools |
Business Model & Strategy
Foxconn employs a “design, ODM (Original Design Manufacturer), OEM (Original Equipment Manufacturer), and EMS (Electronics Manufacturing Services)” model to offer its clients a comprehensive range of services. Foxconn operates as a contract manufacturer, building products for brands rather than selling its own. It now invests heavily in EVs, semiconductors, and automation.
Market Presence & Financials
Foxconn is the fourth-largest information technology company by revenue. It collected a revenue of $208 billion in 2024. Foxconn assembles nearly 40% of the world’s consumer electronics. The company employs over a million workers worldwide. It has major factories in China, India, and Vietnam.
Leadership & Culture
CEO Young Liu, who took over in 2019, is steering Foxconn toward AI and electric vehicles. The Chief Financial Officer (CFO) of Foxconn (Hon Hai Technology Group) is David Huang. Jimmy Jong is the CTO of the company. They are responsible for the growth and strong connections of the company.
Controversies & Challenges
Foxconn faced many challenges and worked hard to tackle them. Some of them include worker suicides, underage workers, incidents and injuries, worker protests, tax investigations, and poor working conditions. Its EV and semiconductor ventures are still unproven at scale.
Future Outlook
Foxconn aims to become a major EV supplier by 2025 while expanding in AI and chip manufacturing. Success depends on reducing Apple dependence and executing new tech initiatives.