Foxconn, the largest contract manufacturer of Apple products, produces the vast majority of iPhone 14 Pro and Pro Max devices. This year, Apple has been selling these devices at an increasing rate, and Foxconn is a major supplier.
|Startup Name||Foxconn Technology Group|
|Also Known As||Hon Hai Precision Industry Co. Ltd.|
|Headquarters||Tucheng District, New Taipei, Taiwan|
|Products||Electronics, electronic components, PCBs, PCB components, computer chips.|
|Founded||20 February 1974|
Hon Hai Precision Industry Co., Ltd. or Foxconn was founded by Terry Gou in 1974 as an electrical component maker.
Terry Gou founded Hon Hai (Foxconn) in Taiwan in 1974 with $7,500 in seed money and 10 older labourers, working out of a leased shed in Tucheng, a Taipei suburb, producing plastic parts for television sets. In 1980, he received an order from Atari to create the console joystick, which marked a turning point in his career.
In the 1980s, he extended his firm even further by going on an 11-month road tour across the United States in pursuit of new clients. Despite having security called on him numerous times, Gou was able to break into many organizations uninvited and obtain further orders as an aggressive salesperson.
He built his first plant in mainland China, in Shenzhen, in 1988, and it is still his largest factory today. When Gou vertically integrated the assembly process and work facilities in China, operations grew dramatically. The factory site was transformed into a campus including accommodation, dining, medical care, burial for the workers, and poultry raising to supply the restaurant.
Hon Hai began producing Compaq desktop chassis in 1996. This was a watershed moment, and it led to the development of bare-bones chassis for other high-profile clients including HP, IBM, and Apple. Foxconn evolved to become a consumer electronics behemoth in just a few years.