Foxconn facts for kids
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Trade name
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Native name
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鴻海精密工業股份有限公司
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Romanized name
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Hónghǎi Jīngmì Gōngyè Gǔfèn Yǒuxiàn Gōngsī |
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Formerly
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Hon Hai Plastics Corporation (鴻海塑料企業有限公司) (1974–1982) |
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| ISIN | ISIN: [https://isin.toolforge.org/?language=en&isin=TW0002317005 TW0002317005] |
| Industry | Electronics |
| Founded | 20 February 1974 (as Hon Hai Precision Industry Co., Ltd.) |
| Founder | Terry Gou |
| Headquarters |
Tucheng District, New Taipei City, Taiwan
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Area served
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Worldwide |
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Key people
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Young Liu (chairman and president) |
| Products | |
| Services | Electronics manufacturing services |
| Revenue | NT$ 6.626 trillion (2022) ~US$213.90 billion |
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Operating income
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NT$ 173.78 billion (2022) ~US$5.61 billion |
| NT$ 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 |
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Number of employees
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 767,062 (2022) (Taiwan employee data only) |
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| Hon Hai Precision Industry Co., Ltd. | |||||||||||||||||
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| 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 | ||||||||||||||||
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| Hon Hai Technology Group | |||||||||||||||||
| Traditional Chinese | 鴻海科技集團 | ||||||||||||||||
| Simplified Chinese | 鸿海科技集团 | ||||||||||||||||
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| Foxconn Technology Group | |||||||||||||||||
| Traditional Chinese | 富士康科技集團 | ||||||||||||||||
| Simplified Chinese | 富士康科技集团 | ||||||||||||||||
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Hon Hai Precision Industry Co., Ltd. is a huge company from Taiwan. It is also known as Hon Hai Technology Group in Taiwan and Foxconn Technology Group or just Foxconn in other parts of the world. This company makes electronics for many other big brands.
Foxconn started in 1974 and has its main office in Tucheng District, New Taipei City, Taiwan. In 2023, it was one of the top 20 largest companies in the world by revenue. It is the biggest company that makes electronics for other companies. Even though its main office is in Taiwan, most of its money comes from its factories in China. Foxconn is also one of the largest employers in the world. The company was started by Terry Gou.
Foxconn makes electronic products for many famous companies from America, Canada, China, Finland, and Japan. Some of the well-known products they have made include the iPad, iPhone, iPod, Kindle, and gaming systems like the Nintendo GameCube and PlayStation consoles. They also make parts for computers. In 2012, Foxconn factories made about 40% of all the electronics sold around the world!
After founder Terry Gou retired, Young Liu became the new chairman of Foxconn on July 1, 2019. Young Liu used to be a special helper to Terry Gou. Experts believe this change shows that Foxconn will focus more on things like semiconductors (tiny electronic parts), artificial intelligence, robotics, and self-driving cars. This is because making smartphones, which was their main business, has become very common.
Foxconn is still a very successful company. Circuits Assembly magazine has named Foxconn the largest electronics manufacturing services company in the world for 14 years in a row.
Contents
History of Foxconn
Terry Gou started Hon Hai Precision Industry Co., Ltd. in 1974 in Taipei, Taiwan. At first, they made parts for electrical devices. Foxconn opened its first factory in China in Longhua Town, Shenzhen, in 1988.
A big moment for Foxconn happened in 2001. The company Intel chose Foxconn to make its computer motherboards instead of another company called Asus. This helped Foxconn grow a lot. By 2007, Foxconn planned to build a new factory in Huizhou, Southern China, costing US$500 million.
In January 2012, Foxconn named Tien Chong (Terry) Cheng as the chief executive of one of its companies, FIH Mobile Limited. Around this time, Foxconn was making about 40% of all consumer electronics worldwide.
Foxconn continued to grow. In March 2012, they bought 10% of the Japanese electronics company Sharp Corporation. They also planned to buy up to half of the LCD screens made at Sharp's factory in Sakai, Japan. However, this deal changed later because Sharp's share prices dropped. In September 2012, Foxconn announced plans to build five new factories in Itu, Brazil, which would create 10,000 jobs.
In 2014, Foxconn bought Asia Pacific Telecom. They also got licenses to operate 4G mobile phone services in Taiwan.
On February 25, 2016, Sharp agreed to let Foxconn buy more than 66% of its shares. This was a big deal worth about US$6.24 billion. However, Foxconn found out that Sharp had some hidden debts. This made Foxconn's board of directors stop the deal for a short time. But then, Terry Gou decided that Foxconn should still honor the agreement. A month later, on March 30, 2016, the deal was finalized, but for a slightly lower price.
In 2016, Foxconn, along with other companies, started a car company called Future Mobility. This company aimed to sell electric, self-driving cars. In March 2018, a part of Foxconn bought Belkin International for $866 million.
In July 2019, Young-Way Liu became the new chairman of the Foxconn Group.
In February 2020, during the COVID-19 pandemic, Foxconn started making medical masks and clothing at its factory in Shenzhen, China. They first said the masks would be for their own employees. But the pandemic caused a huge need for masks all over the world.
In June 2021, Foxconn's founder Terry Gou helped Taiwan get COVID-19 vaccines. His charity worked with another company, TSMC, to buy 10 million BioNTech COVID-19 vaccines from Germany for Taiwan.
In 2024, Foxconn had a very successful fourth quarter, earning more money than expected.
Foxconn Around the World
Foxconn has 137 locations, including factories and offices, in 24 countries. Most of Foxconn's factories are in East Asia. They also have factories in Brazil, India, Europe, and Mexico.
Factories in China
As of 2012, Foxconn had 12 factories in nine Chinese cities. This is more than in any other country.
The biggest Foxconn factory is in Longhua Subdistrict, Shenzhen. Hundreds of thousands of people work there. This huge area is sometimes called "Foxconn City." It covers about 3 square kilometers (1.2 square miles). The park has 15 factories, dorms for workers, swimming pools, a fire station, its own TV network, a city center with stores, banks, restaurants, and a hospital. Many workers live and work inside this complex.
Another large Foxconn factory is in Zhengzhou, Henan province. This factory makes most of Apple's iPhones and is sometimes called "iPhone City."
Important Events in China
Foxconn has plans to build more factories in other Chinese cities like Wuhan and Tianjin.
In May 2016, the BBC reported that Foxconn replaced 60,000 employees with machines. The company later confirmed that they had used robots for many tasks.
In September 2017, Foxconn agreed to invest US$5.7 billion in Nanjing. This money would be used to develop smart devices and LCD screens.
In October 2022, there was a COVID outbreak at the Zhengzhou factory. Foxconn put in place rules that stopped workers from leaving the complex. Some workers tried to leave by jumping fences. In November, workers had disagreements with security over the strict rules and claims about promised salaries.
Foxconn in Brazil
All of Foxconn's facilities in South America are in Brazil. These include factories that make mobile phones in Manaus and Indaiatuba. They also have production sites in Jundiaí, Sorocaba, and Santa Rita do Sapucaí. The company is thinking about investing even more in Brazil.
Foxconn in Europe
Foxconn has factories in Hungary, Slovakia, and the Czech Republic. In 2011, it was the second-largest company that exported goods from the Czech Republic.
Foxconn in India
In early 2015, Foxconn started working with Sony to make televisions and sell them in India. They opened a new factory near Chennai. By mid-2015, Foxconn was talking about making Apple's iPhones in India. In 2015, Foxconn announced plans to build twelve factories in India and create about one million jobs.
In 2017, Foxconn started making iPhones near Chennai. In April 2019, Foxconn said they were ready to make newer iPhones in India. In September 2022, Foxconn signed a deal for a semiconductor plant in Gujarat. However, Foxconn decided to leave this project in July 2023.
In August 2023, Foxconn said that India makes up more than 5% of its business. They see a lot of room for future investments there. Foxconn aims to create 2 million jobs and help India export mobile phones worth $10 billion by 2030. To reach these goals, the company has three new factories being built in southern India. These factories will make iPhones, iPads, iPods, and AirPods. They are expected to be finished by the end of 2024 and will employ about 400,000 people in their first five years.
In November 2023, Foxconn announced a $1.54 billion investment in India to help with its "operational needs." In August 2024, Foxconn showed interest in investing in Hyderabad. They discussed plans for a new "fourth city" near Hyderabad.
Foxconn in Japan
Foxconn and Sharp Corporation work together to run two factories in Sakai, Osaka. These factories specialize in making large-screen televisions. In August 2016, Foxconn completed a deal to buy Sharp for $3.8 billion.
Foxconn in Malaysia
As of 2011, Foxconn had at least seven factories in the Johor state of Malaysia, in Kulai. They are building an industrial park there with fully automated assembly and packaging lines.
Foxconn in Mexico
Foxconn has a factory in San Jerónimo, Chihuahua that puts together computers. They also have two factories in Juárez. One used to be a Motorola factory that makes mobile phones. The other makes set-top boxes and was bought from Cisco Systems. LCD televisions are also made in Tijuana at a factory Foxconn bought from Sony.
In June 2022, Foxconn announced that one of its factories in Mexico was attacked by ransomware. This attack affected production at the facility in Tijuana, Baja California.
Foxconn in South Korea
In June 2014, the company invested $377 million to buy a small part of a South Korean IT services company called SK C&C.
Foxconn in the United States
On July 26, 2017, Foxconn announced it would build a $10 billion TV manufacturing plant in southeastern Wisconsin. This plant would create 3,000 jobs at first, growing to 13,000. As part of the deal, Foxconn was set to receive a lot of money from the government to help them build the plant.
Some people thought the plant would bring a lot of money to Wisconsin. However, some economists were unsure if the benefits would be worth the cost. Others pointed out that Foxconn had made similar promises about jobs in the past that did not happen.
Environmental groups were also concerned. Foxconn was allowed to take a lot of water from Lake Michigan. They also had to replace wetlands at a higher rate than other companies. Foxconn is spending $30 million on technology to make sure no liquid waste leaves the plant.
On October 4, 2017, Foxconn agreed to build their plant in Mount Pleasant, Wisconsin. Construction started on June 28, 2018.
In January 2019, Foxconn said they were thinking again about making LCD screens at the Wisconsin plant. They said the cost of workers in the United States was too high.
Under a new agreement in April 2021, Foxconn reduced its planned investment to $672 million and 1,454 new jobs. The tax credits they could get were also reduced.
In October 2021, Lordstown Motors announced a deal to sell a former GM plant to Foxconn. Foxconn would then make the company's Endurance pickup truck there. The deal was completed in May 2022.
Main Customers
Foxconn makes products for many big companies. Here are some of their past or present main customers:
From North America
- Amazon.com (United States)
- Apple Inc. (United States)
- BlackBerry Ltd. (Canada)
- Cisco (United States)
- Dell (United States)
- Google (United States)
- Hewlett-Packard (United States)
- Intel (United States)
- Microsoft (United States)
- Motorola Mobility (United States)
- Roku, Inc. (United States)
- Vizio (United States)
From Asia
- Acer Inc. (Taiwan)
- Huawei (China)
- Lenovo (China)
- Nintendo (Japan)
- Sega (Japan)
- Sony (Japan)
- Toshiba (Japan)
- Xiaomi (China)
From Europe
- HMD Global (Finland)
Companies Owned by Foxconn
FIH Mobile
FIH Mobile is a company owned by Foxconn. It helps with things like developing new products and customer support.
In May 2016, FIH Mobile bought the feature phone business from Microsoft Mobile. This included a factory in Vietnam. FIH Mobile now makes new Nokia-branded phones.
Foxtron
Foxtron is a company started in 2020 by Foxconn and Yulon Group. They work on making and developing electric vehicles.
Companies Foxconn Works With
Sharp
Sharp Corporation is a Japanese electronics company. It was founded in 1912. Since 2016, Foxconn owns most of Sharp.
Partnerships and New Projects
Foxconn has created the Mobility in Harmony Consortium. This group works to set common rules for electric vehicles.
In 2020, Foxconn started the MIH Alliance. This is a group that helps companies work together in the electric vehicle (EV) industry. More than 2,200 companies have joined this group. Foxconn wants to become a major company that assembles EVs for others. In the same year, Foxconn partnered with Fiat Chrysler Automobiles and Yulon Group to get into the EV business.
Foxconn holds an event called Hon Hai Tech Day (HHTD) every year to show its newest achievements. In HHTD21, Foxconn showed three EV models they developed: the Model C (a recreational vehicle), the Model E (a sedan), and the Model T (an electric bus).
In January 2021, Foxconn and Geely Holding Group agreed to work together. They will create a new company to provide services for making vehicles, parts, and smart driving systems for car companies around the world. In February 2021, Foxconn announced a deal with EV startup Fisker Inc. to make over 250,000 vehicles a year together.
In July 2021, Foxconn teamed up with CTBC Financial Holding Co., Ltd to create a new fund for investing in EVs. In June 2021, Foxconn invested in Gigasolar Materials Corp to develop materials for EV batteries. In September 2021, Foxconn worked with Thailand's state-owned oil company PTT Public Co. to invest in an EV joint venture in Thailand. In the same month, Foxconn and Gogoro formed a partnership to improve manufacturing for Gogoro's battery swapping technology and Smart Scooters. In October 2021, Foxconn agreed to buy a former GM car plant from Lordstown Motors. Foxconn would use the plant to make Lordstown's Endurance pickup truck. Fisker vehicles would also be made at the same plant.
In January 2022, Foxconn signed an agreement with companies in Indonesia to develop a new energy system. This system focuses on electric batteries, electric vehicles, and related industries. In May 2022, Foxconn finished buying the Lordstown Motors facility. They also signed agreements to make products and develop new ones with Lordstown Motors.
In mid-2021, Foxconn announced that it would get more involved in making semiconductors. They plan to make chips for electric vehicles (EVs) and electronics used in healthcare. In May 2021, Foxconn and Yageo Group started a new company called XSemi Corporation. XSemi aims to combine the strengths of both companies to grow in the semiconductor industry. In August 2021, Foxconn bought a Macronix factory for making silicon wafers.
In February 2022, Foxconn formed a new company with Vedanta Limited to make semiconductors in India. However, Foxconn left this deal in July 2023. In April 2022, Foxconn bought a wireless communications company called arQana Technologies, which was renamed "iCana." Foxconn also merged with a company that designs integrated circuits called AchernarTek. These actions will help Foxconn make semiconductors for cars and 5G networks. In September 2022, Foxtron, Foxconn's car division, worked with Luxgen to launch its first electric vehicle, the Luxgen n7.
Images for kids
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The logo used in Taiwan
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The logo used in China
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The logo used outside of Taiwan and China
See also
In Spanish: Foxconn para niños
