Who Is Foxconn?

LORDSTOWN, Ohio – Hon Hai Technology Group, better known as Foxconn, is the world’s largest contract electronics manufacturer, best known for mass-producing the Apple iPhone for consumers all over the world.

Yet the global company is far more complex and diverse than a smartphone manufacturer. Since it was founded nearly 50 years ago, the Taiwanese corporation has established 173 factories or offices in 24 countries and regions across the globe.

These operations range from research and development in software and tech applications to the announcement Nov. 6 that it has signed a launch services agreement with Exolaunch to manage missions for the first Foxconn orbital satellites.

In addition, the company produces components such as connectors, semiconductors, and electronic parts that fill the supply chain for the world’s automotive, computing and communications industries, according to the Foxconn website.

SiliconAuto, for example, a joint venture between Foxconn and Stellantis announced in June, will by 2026 act as a semiconductor supplier to the auto industry. Also in July, Foxconn announced it had acquired a 50% stake in Germany-based ZF Chassis Modules to manufacture chassis for passenger vehicles.

The Taiwanese company nevertheless has given priority to the three industries it believes are key to its growth: electric vehicles, digital health and robotics, part of its 3 + 3 industry and technology strategy.

Foxconn is also moving forward with work in artificial intelligence, most recently evidenced by a partnership announced with Nvidia that would incorporate AI into its electric vehicles. And the company has outlined plans for smart city technology solutions and other ventures. 

Founded in Taiwan in 1974 by Terry Ghou, Foxconn has established operations in the United States, Mexico, Brazil, India, the Czech Republic, Hungary, Slovakia, Malaysia, Japan, China, Vietnam and South Korea.

For the second quarter, the company posted a $1 billion profit, beating analysts’ expectations.

The company said its profits were helped by a boost in the AI market, but noted a softening in other tech products.

More recently, Foxconn announced that it expected to see stronger sales by the end of the year, kicked upward by what it anticipates to be robust holiday sales across the United States and Europe.

Pictured at top: The Monarch MK-V electric tractor rolls off the assembly line in Lordstown.