Hon Hai Precision Industry Co., Ltd., commonly known as Foxconn, is a Taiwanese multinational electronics contract manufacturer. Founded in 1974 by Terry Gou, it has grown to become the world's largest electronics manufacturer, key supplier to Apple, and a major player in global supply chains.
Terry Gou (Guo Taiming) founded Hon Hai Precision Industry in Taipei, Taiwan, with a capital of NT$75,000 and 15 employees. Initially focused on producing plastic components for television sets. #corporate #history
Hon Hai turned profitable within its first year, allowing expansion of product lines to include connectors and other electronic parts. #manufacturing #growth
Foxconn began manufacturing connectors for personal computers, marking a strategic shift to higher-value components. This laid the foundation for its later dominance in electronics manufacturing. #electronics #components
The company formally adopted the name Hon Hai Precision Industry Co., Ltd. to reflect its broadening scope. #corporate #rebranding
Foxconn established its first factory in mainland China, in Shenzhen, to take advantage of lower labor costs and proximity to customers. This move was pivotal for future expansion. #globalization #manufacturing
Foxconn began producing computer cases and connectors for major PC brands like Compaq and Dell, establishing itself as a key supplier in the PC ecosystem. #computers #supplychain
Hon Hai Precision was listed on the Taiwan Stock Exchange, providing capital for further expansion. The stock became a bellwether for Taiwan's tech sector. #finance #IPO
Foxconn acquired the chassis division of Compaq, becoming a major producer of computer enclosures. This deepened relationships with PC OEMs. #acquisitions #computers
Foxconn began manufacturing components for mobile phones, anticipating the explosive growth of the mobile industry. This later made them a key supplier to Nokia, Motorola, and Apple. #mobile #components
Foxconn acquired the notebook production unit of Acer, entering the notebook manufacturing space. This further diversified its product portfolio. #acquisitions #laptops
The company began using the trade name 'Foxconn' to market its products and services globally. The name is derived from 'Fox' (from 'Hon Hai' translation) and 'conn' (connectors). #branding #marketing
Foxconn achieved annual revenue exceeding NT$100 billion, driven by strong PC and component sales. #financial #milestone
Foxconn captured the top spot globally in connector manufacturing, a testament to its scale and efficiency. #manufacturing #leadership
Foxconn acquired Ambit Microsystems, a major supplier of electronics for networking and telecommunications, increasing its capabilities in communications. #acquisitions #telecom
Foxconn was chosen by Apple to manufacture the first-generation iPhone, marking a transformative partnership that made Foxconn the primary assembler for iPhones. This cemented its role in consumer electronics. #apple #iPhone #manufacturing
Foxconn acquired a stake in Innolux Display Corporation, gaining a foothold in the LCD panel industry. Later, Innolux became a major panel supplier. #displays #acquisitions
A series of employee suicides at Foxconn's Shenzhen operations drew global attention to working conditions. Foxconn responded by raising wages and improving safety measures. #labor #crisis
Foxconn invested in Sharp's liquid crystal display (LCD) panel business, strengthening its vertical integration in display technology. #displays #acquisitions
Foxconn announced plans to deploy one million robots to automate manufacturing, aiming to reduce labor dependency. This was a response to rising wage costs. #automation #robotics
Foxconn expanded its Apple partnership to include iPad and Mac assembly, solidifying its role as Apple's top manufacturing partner. #apple #manufacturing
Foxconn launched Foxconn Industrial Internet (FII), a subsidiary focused on smart manufacturing and industrial automation. This became a separate entity later listed on the Shanghai Stock Exchange. #industry4.0 #smartmanufacturing
Foxconn completed the acquisition of Sharp Corporation for approximately $3.8 billion, gaining control of its panel technology and consumer electronics brand. This was a major strategic move into display and brand ownership. #acquisitions #displays
Foxconn's founder Terry Gou announced plans to invest in US manufacturing, partly in response to pressure from the Trump administration. This led to the later announcement of a Wisconn Valley project in Wisconsin. #manufacturing #usa
Foxconn and Wisconsin Governor Scott Walker announced a $10 billion investment to build a LCD manufacturing plant in Mount Pleasant, Wisconsin, promising 13,000 jobs. The project faced delays and scaling back. #manufacturing #wisconsin
FII, the subsidiary focusing on industrial internet and smart manufacturing, went public on the Shanghai Stock Exchange, raising $4.3 billion, marking one of the largest IPOs of the year. #finance #IPO
Terry Gou resigned as chairman of Hon Hai Precision Industry to run for President of Taiwan as an independent candidate. He later lost the primary of the Kuomintang party. #leadership #politics
Liu Young-way took over as chairman of Foxconn, succeeding Terry Gou. Liu had been head of the Semiconductor Subgroup and led the company's diversification into chips. #leadership #management
Foxconn introduced the MIH platform, an open electric vehicle (EV) software and hardware platform, aiming to become a key supplier for the automotive industry. This marked entry into EV manufacturing. #electricvehicles #automotive
Foxconn announced that it would scale back its Wisconsin plant from a 10.5-generation LCD fab to a smaller 6th-generation facility, significantly reducing the size of the investment and job creation expectations. #manufacturing #setback
Amid the COVID-19 pandemic, Foxconn retooled some of its factories to produce respirators and other medical equipment, demonstrating manufacturing flexibility. #covid19 #manufacturing
Foxconn signed a deal with Byton, a Chinese EV startup, to manufacture its M-Byte SUV in the company's Nanjing plant. This was a step into automotive contract manufacturing. #electricvehicles #partnership
Foxconn showcased three EV prototypes—Model C, Model E, and Model T (a bus)—at its Tech Day event, underlining its development capabilities in the electric vehicle market. #electricvehicles #innovation
Foxconn acquired Macronix's 6-inch wafer fab in Hsinchu, Taiwan, to boost its semiconductor manufacturing capabilities, particularly for automotive and IoT chips. #semiconductors #acquisitions
Foxconn entered an agreement with Lordstown Motors to manufacture the Endurance electric pickup truck at the former GM plant in Ohio, which Foxconn acquired. #electricvehicles #manufacturing
Foxconn finalized the purchase of the 6.2 million-square-foot Lordstown Assembly plant in Ohio, giving it a manufacturing foothold in North America for EV production. #acquisitions #manufacturing
Foxconn partnered with Indi EV to develop electric vehicles in India, aiming to tap into the growing South Asian EV market. #electricvehicles #india
Foxconn reported annual consolidated revenue of NT$6.26 trillion for 2022, a new record driven by strong demand for smartphones and servers. #financial #revenue
Foxconn announced it would exit its joint venture with Vedanta to build a semiconductor plant in India, citing differences in the pace of the project. #semiconductors #india
Foxconn launched its first low-Earth orbit satellite, PEARL, aboard a SpaceX Falcon 9 rocket, aiming to explore satellite communication technology for IoT and future 6G networks. #space #technology
Foxconn announced that it would begin production of the Lordstown Endurance pickup truck for Lordstown Motors, followed by other contracts, with plans to produce up to 500,000 EVs per year. #electricvehicles #manufacturing
Foxconn announced a partnership with Nvidia to build 'AI factories' that use Nvidia chips to power autonomous driving, robotics, and industrial AI applications. #AI #partnership
Foxconn reported a record net profit for the second quarter of 2024, driven by strong demand for AI servers and iPhone assembly. #financial #earnings
Foxconn unveiled its first self-developed electric crossover, Model B, built on the MIH platform, showcasing its end-to-end EV manufacturing capability. #electricvehicles #innovation
Foxconn launched its own electric vehicle brand 'Foxtron' with models like Model C (SUV) and Model T (bus), targeting both consumer and commercial markets. #electricvehicles #brand
Foxconn began construction on a new semiconductor fabrication facility in Singapore, part of its plan to expand chipmaking capacity for AI, EVs, and IoT devices. #semiconductors #expansion