Trading as Foxconn Technology Group, Hon Hai Precision Industry Co., Ltd. is the world’s largest contract electronics manufacturer. In 2012, reports suggested that the company’s factories produced approximately 40 percent of all consumer electronics, for customers such as Apple, Dell, Amazon, Hewlett Packard, and Sony. The company currently employs well over a million people worldwide and was, in fact, one of the world’s largest employers in 2015.
Foxconn’s factories are distributed around the world, although the majority of its workforce is based in mainland China. Foxconn’s largest factory sits in Longhua Town, Shenzhen, China, where -according to some estimates – it employs between 200 and 500 thousand people. The company also has factories in Japan, India, and Malaysia, several central and eastern European countries, Brazil, and Mexico. While there have been plans to build a factory within the United States, these plans are as yet unrealized.
Despite building electronics products for many companies, Foxconn is often thought of as having particularly strong ties with Apple. Indeed, as seen in the statistic, Foxconn’s revenues are substantial and the company’s present-day success must be at least partially attributed to the success of and demand for Apple’s consumer products, such as the iPhone, iPad, and iPod. Foxconn’s revenues are such that, in 2013, the company generated around 4,000 U.S. dollars in revenue every second. In 2015, this number is closer to 4,300 U.S. dollars per second. Foxconn’s net income has increased steadily, year on year, and in 2015 was close to breaking 5 billion U.S. dollars.
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Because of the losses in the early days, which get bigger the more successful the company is at acquiring customers, it is much harder for management and investors to figure out whether a SaaS business is financially viable.
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