Foxconn

Hon Hai Precision Industry Co., Ltd., trading as Foxconn Technology Group, is a Taiwanese multinational electronics contract manufacturing company headquartered in Tucheng, New Taipei, Taiwan. It was founded on February 20, 1974 by Terry Gou.

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, Nintendo 3DS, Nokia devices, Xiaomi devices, PlayStation 3, PlayStation 4, Wii U, and Xbox One. As of 2012, Foxconn factories manufactured an estimated 40% of all consumer electronics sold worldwide.

Foxconn has been involved in several controversies. In 2010, following a series of employee suicides at its factory in Shenzhen, Foxconn was criticized by labour activists, who accused the company of providing low wages and allowing employees to work past legal overtime limits.

Foxconn has 12 factories in nine Chinese cities—more than in any other country. The largest Foxconn factory is located in Longhua Town, 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 1.16 square miles (3 square km), it includes 15 factories, worker dormitories, 4 swimming pools, a fire brigade, its own television network (Foxconn TV),[10] and a city centre with a grocery store, bank, restaurants, book store and 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, and many of them work up to 12 hours a day for 6 days each week.

Foxconn is the world's fourth-largest information technology company by revenue and today, it is the world's largest contract electronics manufacturer. Foxconn's future expansion include sites at Wuhan in Hubei province, Haizhow, Kunshan in Jiangsu province, Tianjin, Beijing, and Guangzhou in Guangdong province, China. A Foxconn branch that primarily manufactures Apple products is Hongfujin.

 

Foxconn ranked No. 24 on the 2018 Fortune Global 500 list.

 

Foxconn has made over 50 investments as well as acquired few companies. It's most notable acquisitions are- Foxconn acquired Sharp in April 2016 for $3.5B, On March 20, 2018, Foxconn acquired Belkin for $886M, On 18 May 2016 Foxconn. bought Nokia for $350M

 

Foxconn plans to begin building US panel plant next spring

Foxconn to spend US$5.7 billion in Nanjing on world's biggest smartphone assembly hub

 

 

  • Year founded: 1974
  • Funding Info: Foxconn has acquired 4 organizations as well as made 51 investments to date!
  • Yearly Revenue: 4.706 trillion TWD (2017)
  • Employee Size: 10,001+
  • Business Valuation: Mkt Cap: 86.57B (TWD) as of Feb 13, 2019/ Total Assets: NT$3.407 trillion (2017)
  • City/Town: Taipei
  • State: Taipei
  • Country: Taiwan
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