Foxconn Facts for Kids

Quick facts for kids
Hon Hai Precision Industry Co. Ltd.

Trade name	Hon Hai Technology Group (鴻海科技集團) Foxconn (富士康)
Native name	鴻海精密工業股份有限公司
Type	Public
Industry	Electronics
Founded	20 February 1974; 51 years ago (1974-02-20) (as Hon Hai Precision Industry Co., Ltd.)
Founder	Terry Gou
Headquarters	Tucheng District, New Taipei, Taiwan
Area served	Worldwide
Key people	Young Liu (chairman and president)
Products	Electronics Electronic components PCBs Integrated circuits
Services	Electronics manufacturing services
Revenue	NT$ 6.626 trillion (2022) ~US$213.90 billion
Operating income	NT$ 173.78 billion (2022) ~US$5.61 billion
Net income	NT$ 141.48 billion (2022) ~US$4.57 billion
Total assets	NT$ 4.133 trillion (2022) ~US$133.42 billion
Total equity	NT$ 1.650 trillion (2022) ~US$53.27 billion
Number of employees	767,062 (2022) (Taiwan employee data only)
Subsidiaries	Fii Foxconn Industrial Internet FIT Foxconn Interconnect Technology FIH Mobile ShunSin Healthconn CircuTech Asia Pacific Telecom Sharp Corporation Smart Technologies Belkin

Foxconn

Traditional Chinese

鴻海精密工業股份有限公司

Simplified Chinese

鸿海精密工业股份有限公司

Literal meaning

Hon Hai Precision Industry Co., Ltd.

Transcriptions
Standard Mandarin
Hanyu Pinyin	Hónghǎi Jīngmì Gōngyè Gǔfèn Yǒuxiàngōngsī
Bopomofo	ㄏㄨㄥˊㄏㄞˇ ㄐ丨ㄥㄇ丨ˋ ㄍㄨㄥ一ㄝˋ ㄍㄨˇㄈㄣˋ一ㄡˇㄒ丨ㄢˋㄍㄨㄥㄙ
Southern Min
Tâi-lô	hông-hái tsing-bı̍t kang-gia̍p kóo-hūn iú-hān kong-si

Trading name in Chinese

Traditional Chinese

鴻海科技集團

Simplified Chinese

鸿海科技集团

Literal meaning

Hon Hai Technology Group

Transcriptions
Standard Mandarin
Hanyu Pinyin	Hónghǎi Kējì Jítuán
Bopomofo	ㄏㄨㄥˊㄏㄞˇ ㄎㄜㄐ丨ˋ ㄐ丨ˊㄊㄨㄢˊ

International trade name

Chinese

富士康

Literal meaning

Foxconn

Transcriptions
Standard Mandarin
Hanyu Pinyin	Fùshìkāng
Bopomofo	ㄈㄨˋㄕˋㄎㄤ

Hon Hai Precision Industry Co., Ltd., better known as Foxconn, is a huge company from Taiwan. It was started in 1974. Foxconn makes electronics for many famous brands around the world.

It is the largest company that builds electronics for other companies. Foxconn has its main office in New Taipei City, Taiwan. In 2021, it made a lot of money, about US$214 billion. This made it the 20th largest company in the world on the Fortune Global 500 list in 2023. Foxconn is also one of the biggest employers globally.

What Does Foxconn Make?
New Leadership and Future Plans
Foxconn in the United States
Who Are Foxconn's Main Customers?
- Customers in North America
- Customers in Asia
Images for kids
See also

What Does Foxconn Make?

Foxconn builds electronic products for many big companies. These companies are from places like America, Canada, China, Finland, and Japan.

Some of the well-known products made by Foxconn include:

BlackBerry phones
iPad, iPhone, and iPod from Apple
Amazon Kindle e-readers
All Nintendo gaming systems since the GameCube
Nintendo DS models
Sega game consoles
Nokia phones
Cisco products
Sony devices, including most PlayStation consoles
Google Pixel phones
Xiaomi devices
Every Microsoft Xbox console after the first one

Back in 2012, it was thought that Foxconn factories made about 40% of all the electronics people bought worldwide.

New Leadership and Future Plans

Terry Gou started Foxconn and was its chairman for a long time. He retired on July 1, 2019. After him, Young Liu became the new chairman.

Young Liu used to be a special helper to Terry Gou. He also led the part of the company that deals with semiconductors. Experts believe this change shows what Foxconn will focus on next. They think the company will now put more effort into semiconductors. These are tiny parts that make electronics work.

Foxconn also plans to focus on new technologies. These include artificial intelligence (AI), robotics, and self-driving cars. This is happening as making smartphones, which was a big part of their business, has become more common.

Foxconn in the United States

In 2017, Foxconn announced a big plan for the United States. They said they would build a $10 billion factory in Wisconsin. This factory was meant to make TV screens.

The company planned to hire 3,000 workers at first. They hoped to increase this to 13,000 jobs later. As part of this deal, Foxconn was offered a large amount of money from the state. This money would be paid if Foxconn met certain goals.

Some people thought this factory would bring a lot of money to Wisconsin. However, some experts worried that the benefits might not be worth the cost. Also, Foxconn had made similar promises about jobs in the past that did not fully happen.

There were also concerns about the environment. Foxconn was allowed to build without a full environmental check. People worried about air pollution from the plant. There were also concerns about the amount of water the factory would use from Lake Michigan. Foxconn said they would spend money to clean the water they used. They also agreed to restore more wetlands than other companies usually do.

In 2018, Foxconn started building the plant in Mount Pleasant, Wisconsin. The then-President of the United States, Donald Trump, even attended the groundbreaking event.

However, in 2019, Foxconn said they might change their plans. They thought about not making LCD screens there. This was because the cost of workers in the U.S. was high.

In 2021, Foxconn made a new agreement. They reduced their planned investment to $672 million. They also planned for 1,454 new jobs instead of the original number. The tax money they could get was also much lower.

In 2021, Foxconn also made a deal with Lordstown Motors. Foxconn bought a factory from them for $230 million. This factory would be used to build electric pickup trucks. Foxconn also invested more money into Lordstown Motors.

Who Are Foxconn's Main Customers?

Foxconn makes products for many different companies. Here is a list of some of their past or current major customers. They are listed in alphabetical order. The country where the company is from is in parentheses.