Foxconn

This page is a candidate for deletion. The reason is:

"generic electronics company article, potentially useful if rewritten since Foxconn produces iPhones, Nintendo and Xbox consoles, but the article doesn't touch this aspect, no link to emulation"

If you disagree with the candidate, explain why at the talk page or improve the page and remove the {{delete}} tag.

Remember to check for any active links to the page and its history before deleting.

Hon Hai Precision Industry Co., Ltd. (鴻海精密工業股份有限公司), doing business as Hon Hai Technology Group (鴻海科技集團) in Taiwan, Foxconn Technology Group (富士康科技集团) in China, and Foxconn (富士康) 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 (equivalent to US$198.533 billion in 2024) and was ranked 20th in the 2023 Fortune Global 500. It is the world's largest contract manufacturer of electronics. While headquartered in Taiwan, the company earns the majority of its revenue from assets in China and is one of the largest employers worldwide. Terry Gou is the company founder and former chairman.

Foxconn manufactures electronic products for major American, Canadian, Chinese, Finnish, and Japanese companies. Notable products manufactured by Foxconn include the BlackBerry, iPad, iPhone, iPod, Kindle, all Nintendo gaming systems since the GameCube, Nintendo DS models, Sega models, Nokia devices, Cisco products, Sony devices (including most PlayStation gaming consoles), Google Pixel devices, Xiaomi devices, every successor to Microsoft's Xbox console, and several CPU sockets, including the TR4 CPU socket on some motherboards. As of 2012, Foxconn factories manufactured an estimated 40% of all consumer electronics sold worldwide.

Foxconn named Young Liu its new chairman after the retirement of founder Terry Gou, effective on 1 July 2019. Young Liu was the special assistant to former chairman Terry Gou and the head of business group S (semiconductor). Analysts said the handover signaled the company's future direction and underscored the importance of semiconductors, together with technologies like artificial intelligence, robotics, and autonomous driving. That was in the context of the maturation of Foxconn's traditional major business of smartphone assembly.

Foxconn's Q2 '24 revenue was NT$1.551 trillion (US$31.17 billion). Circuits Assembly magazine named Foxconn the largest electronics manufacturing services company in the world for the 14th straight year.

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 China opened in Longhua Town, Shenzhen, in 1988.

One of the important milestones for Foxconn occurred in 2001 when Intel selected Foxconn 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.

In January 2012, Foxconn named Tien Chong (Terry) Cheng chief executive of its subsidiary FIH Mobile Limited. At this time, Foxconn made up approximately 40% of worldwide consumer electronics production.

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.

In 2014, the company purchased Asia Pacific Telecom and won some spectrum licenses at an auction, which allowed it to operate 4G telecommunications equipment in Taiwan.

On 25 February 2016, Sharp accepted a ¥700 billion (US$6.24 billion) takeover bid from Foxconn to acquire over 66 percent of Sharp's voting stock. However, Sharp had undisclosed liabilities which were later informed by Sharp's legal representative to Foxconn. The deal was halted by Foxconn's board of directors. Foxconn asked to call off the deal, but it was proceeded by the former Sharp president. Terry Gou, in the meeting, then wrote the word "義", which means "righteousness", on the whiteboard, saying that Foxconn should honor the deal. A month later, on 30 March 2016, the deal was announced as finalized in a joint press statement, but at a lower price.

In 2016, Foxconn, together with Tencent and luxury-car dealer Harmony New Energy Auto, founded Future Mobility, a car start up that aimed to sell all-electric fully autonomous premium cars by 2020. A Foxconn unit, Foxconn Interconnect Technology, acquired Belkin International for $866m on 26 March 2018.

In July 2019, Foxconn appointed Liu, Young-Way as the new chairman of the Group.

On 5 February 2020, Foxconn started producing medical masks and clothing at its Shenzhen factory in China during the Chinese New Year and the height of the COVID-19 pandemic. The company initially said the masks it makes would be for internal employee use. The outbreak of coronavirus disease 2019 led to a worldwide spike in demand for masks, resulting in global shortages.

Following almost a year of public controversy regarding its COVID-19 vaccine shortage; in June 2021, Taiwan agreed to allow founder Terry Gou, through his Yongling Foundation charity, to join with contract chip maker TSMC, and negotiate purchasing COVID-19 vaccines on its behalf. In July 2021, BioNTech's Chinese sales agent Fosun Pharma announced that Foxconn and TSMC had reached an agreement to purchase 10 million BioNTech COVID-19 vaccines from Germany for Taiwan. The two technology manufacturers pledged to each buy five million doses for up to $175 million, for donation to Taiwan's vaccination program.

In 2024, Foxconn surpassed expectations with record fourth-quarter revenue.