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.
International operations
Foxconn has 137 campuses and offices in 24 countries and areas around the globe. The majority of Foxconn's factories are located in East Asia, with others in Brazil, India, Europe, and Mexico.
China
As of 2012, Foxconn had 12 factories in nine Chinese cities—more than in any other country.
The largest Foxconn factory is located in Longhua Subdistrict, Shenzhen, where hundreds of thousands of workers (varying counts include 230,000, 300,000, and 450,000) are employed at the Longhua Science & Technology Park, a walled campus sometimes referred to as "Foxconn City".
Covering about 3 km2 (1.2 sq mi), the park includes 15 factories, worker dormitories, four swimming pools, fire brigade, own television network (Foxconn TV), city centre with grocery store, bank, restaurants, book store, hospital. While some workers live in surrounding towns and villages, others live and work inside the complex; a quarter of the employees live in the dormitories.
Another Foxconn factory "city" is located at Zhengzhou Technology Park in Zhengzhou, Henan province, where a reported 120,000 workers were employed as of 2012, later, 200,000 workers were employed as of November 2022. The park produces the bulk of Apple's iPhone line and is sometimes referred to as "iPhone City". Foxconn manufactures iPhones through a division named the integrated Digital Product Business Group (iDPBG).
Events
Foxconn's planned future expansion includes sites at Wuhan in Hubei province, Kunshan in Jiangsu province, Tianjin, Beijing, Huizhou and Guangzhou in Guangdong province, China. A Foxconn branch that primarily manufactures Apple products is Hongfujin.
On 25 May 2016, the BBC reported that Foxconn replaced 60,000 employees because it had automated "many of the manufacturing tasks associated with their operations". The organization later confirmed those claims.
In September 2017, Foxconn agreed with the Nanjing government to invest US$5.7 billion for the development of intelligent terminal devices, LCD development, and other research.
On 21 October 2022, and in response to a Covid outbreak at Zhengzhou Technology Park, Foxconn imposed restrictions on its iPhone assembly plant, with dine-in meal facilities closed. On 31 October 2022, after policies intended to control a Covid outbreak prevented workers from leaving the complex, many workers jumped the fence in order to escape. On 2 November 2022, the government imposed the lockdown to the Zhengzhou Airport Economy Zone, where the Foxconn factory is situated. On 23 November, workers clashed with law enforcement over the harsh COVID restrictions and claims that Foxconn failed to provide the salary packages that were promised to new hires. Videos circulated on Chinese social media depicting law enforcement beating protesting workers as well as large crowds of workers fighting back law enforcement.
Brazil
All company facilities in South America are located in Brazil, and these include mobile phone factories in Manaus and Indaiatuba as well as production bases in Jundiaí, Sorocaba, and Santa Rita do Sapucaí. The company is considering further investments in Brazil.
Europe
Foxconn has factories in Hungary, Slovakia, and the Czech Republic. As of 2011 it is the second-largest exporter in the Czech Republic.
India
As of early 2015, Foxconn had tied up with Sony for manufacturing their televisions and selling it all over India. Hence, they started a new plant called Competition Team Technology (India) Private Limited in Irungattukottai (near Poonamallee, Chennai) which was later moved to Oragadam (Kanchipuram) in 2019. As of mid-2015, Foxconn was in talks to manufacture Apple's iPhone in India. In 2015, Foxconn announced that it would be setting up twelve factories in India and would create around one million jobs. It also discussed its intent to work with the Adani Group for expansion in the country. In August 2015, Foxconn invested in Snapdeal. In September 2016, Foxconn started manufacturing products with Gionee. In 2017, Foxconn started the production of iPhones in Sriperumbudur, near Chennai. In April 2019, Foxconn reported that they are ready to mass-produce newer iPhones in India. Its Chairman, Terry Gou, said that the manufacturing will take place in the southern city of Chennai.
In September 2022, Foxconn signed a deal for a semiconductor plant in Gujarat with an investment of $21 billion, by Vedanta Group. In July 2023, Foxconn made a decision to quit the project, citing a number of issues with Vedanta Group as well as including external ones. In August 2023, during its annual meeting, Foxconn reportedly stated that India at present accounts for more than 5% of the company's business and there is ample space for future investments. Foxconn has set a target to employ 2 million jobs and meet India's target of exporting mobile phones worth $10 billion, both by 2030. To meet these targets, as of September 2023, the company has three manufacturing plants under construction, all in southern India–a component and semiconductor plant near the company's existing plant in Chennai, and two plants each in Bangalore (near its airport) and Hyderabad (Kongara Kalan) for making iPhones, iPads, iPods and AirPods. All three plants are projected to be completed and begin operations by the end of 2024. They will together employ around 400,000 people in the first five years of their operations.
In November 2023, Foxconn announced a $1.54 billion investment in India to "help it fulfil 'operational needs.'" In August 2024, Foxconn showed interest in investing in Hyderabad, as confirmed by the Telangana government. Chairman Young Liu met with Chief Minister A Revanth Reddy, discussing plans for a new "fourth city" near Hyderabad.
Japan
Foxconn and Sharp Corporation jointly operate two manufacturing plants specializing in large-screen televisions in Sakai, Osaka. In August 2012, it was reported that Sharp, while doing corporate restructuring and downsizing, was considering selling the plants to Foxconn. The company was believed to be receptive to the plan. The acquisition was completed with a $3.8 billion deal in August 2016.
Malaysia
As of 2011, Foxconn had at least seven factories in the Johor state, at Kulai, where it is developing an industrial park that includes four factories that comprise fully automated assembly lines as well as fully automated packaging lines.
Mexico
Foxconn has a facility in San Jerónimo, Chihuahua that assembles computers, and two facilities in Juárez – a former Motorola production base that manufactures mobile phones, and a set-top box factory acquired from Cisco Systems. LCD televisions are also made in the country in Tijuana at a plant acquired from Sony.
On 2 June 2022, Foxconn announced that their Mexico-based production plant had been hit by a ransomware attack in late May, disrupting production. The facility affected was located in Tijuana, Baja California and specializes in the production of consumer electronics, medical devices, and industrial products.
South Korea
The company invested $377 million in June 2014 to pick up a 4.9 percent shareholding in a South Korean IT services provider, SK C&C.
United States
Foxconn announced on 26 July 2017 that it would build a $10 billion TV manufacturing plant in southeastern Wisconsin and would initially employ 3,000 workers (set to increase to 13,000). As part of the agreement, Foxconn was set to receive subsidies ranging from $3 billion to $4.8 billion (paid in increments if Foxconn met certain targets), which would be by far the largest subsidy ever given to a foreign firm in U.S. history. Some estimate that Foxconn is expected to contribute $51.5 billion to Wisconsin's GDP over the next 15 years, which is $3.4 billion annually. However, numerous economists have also expressed skepticism that the benefits would exceed the costs of the deal. Others have noted that Foxconn has made similar claims about job creation in the past which did not come to fruition. Their office building in Milwaukee is the only one in Wisconsin
Foxconn was also exempted by Governor Scott Walker from filing an environmental impact statement, prompting criticism from environmentalists. The plant was estimated to contribute significantly to air pollution in the region. Environmentalists criticised the decision to allow Foxconn to draw 26,000 cubic metres (7×10^6 US gal) of water per day from Lake Michigan. Given water concerns, Foxconn is spending $30 million on zero liquid discharge technology. Foxconn is also required to replace wetlands at a higher ratio than other companies; Foxconn must restore 2 acres of wetland for every 1 acre disturbed instead of the ratio of 1.2 to 1 for other companies.
As of 4 October 2017, Foxconn agreed to locate their plant in Mount Pleasant, Wisconsin, and broke ground for the plant 28 June 2018. President Trump was in attendance to promote American manufacturing.
In January 2019, Foxconn said it was reconsidering its initial plans to manufacture LCD screens at the Wisconsin plant, citing high labour costs in the United States. Under a new agreement announced in April 2021, Foxconn will reduce its planned investment to $672 million with 1,454 new jobs. Tax credits available to the project were reduced to $8 million. In October 2021, Lordstown Motors announced a $250 million deal to sell a former GM plant to Foxconn, which would become a contract assembler for the company's Endurance pickup truck. The deal was completed in May 2022 for a final price of $230 million. It was announced Foxconn would also invest $50 million into the company through a purchase of common stock.
Subsidiaries
FIH Mobile
FIH Mobile is a subsidiary of Foxconn, offering services such as product development and after-sales support. It was incorporated in the tax haven of the Cayman Islands in 2000.
On 18 May 2016, FIH Mobile announced the purchase of Microsoft Mobile's feature phone business. Microsoft Mobile Vietnam is also part of the sale to FIH Mobile, which consists of the Hanoi, Vietnam manufacturing facility. The rest of the business has been sold to a new Finland-based company HMD Global, which started developing and selling new Nokia-branded devices in early 2017. The total sale to both companies amounted to US$350 million. FIH Mobile is now manufacturing new Nokia-branded devices developed by HMD.
Foxtron
Foxtron (鴻華先進科技) is a joint venture of Foxconn and Yulon Group founded in 2020 for vehicular manufacturing and research and development of electric vehicles.
Affiliates
Sharp
Sharp Corporation (シャープ株式会社, Shāpu Kabushiki-gaisha) is a Japanese electronics company. It is headquartered in Sakai, Osaka and was founded by Tokuji Hayakawa in 1912 in Honjo, Tokyo and established as the Hayakawa Metal Works Institute in Abeno, Osaka in 1924. Since 2016, it is majority owned by Foxconn.
Controversies
Foxconn has been involved in several controversies relating to employee grievances or treatment. Foxconn has more than one million employees. In China, it employed more people than any other private company as of 2011.