Hon Hai Precision Industry Co., Ltd., more commonly known by its trade name Foxconn, is the largest contract electronics manufacturer worldwide. The company’s factories are found all over the world, although the majority of its workforce is based in mainland China. Foxconn’s largest factory is located in Longhua Town, Shenzhen, China, and it employs somewhere in the region of 200 to 500 thousand people. The company also has factories in Malaysia, India, and Japan, as well as central and eastern Europe, Mexico, and Brazil. While in 2014 the company announced plans to construct a factory in the U.S., these plans appear to have stalled.
According to some estimates, the company manufactures approximately 40 percent of all consumer electronics. Its customers include Apple, Dell, Amazon, HP Inc. , and Sony. Employing more than a million people worldwide, the company was one of the world’s largest employers in 2015. Although Foxconn has contracts with many companies, its relationship with Apple is watched with particular interest. Many see the company’s present-day success as being closely linked to the success of its relationship with the Cupertino-based technology company. Demand for Apple’s consumer products, such as the iPhone, iPad, and iPod, have necessarily driven, in turn, demand for Foxconn’s services.
Foxconn’s revenues are such that, in 2013, the company generated around 4,000 U.S. dollars in revenue every second. In 2015, this figure lay closer to 4,300 U.S. dollars every second. Between 2005 and 2015, Foxconn’s revenue rose steadily, increasing from approximately 22 billion U.S. dollars to approximately 136 billion U.S. dollars by the end of the last financial year.
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