[126], Since 2016 Foxconn has been replacing its workforce with robots, with robots having replaced 50% of Foxconn's labor force by 2016 with plans to completely automate factories. Hon Hai Precision Industry may be the biggest electronics company you never heard of. history. [51] It was established in 2010. [4] The company is the largest private employer in Taiwan[5] and one of the largest employers worldwide. Foxconn in return issued a statement questioning Guo's allegations, arguing workers wanted to work overtime to earn more money. On 25 May 2016, the BBC reported that Foxconn fired 60,000 employees because it had automated "many of the manufacturing tasks associated with their operations". [55] In April 2019 Foxconn reported that they are ready to mass-produce newer iPhones in India. "Foxconn Factories Are Labour Camps: Report". Notable products manufactured by Foxconn include the BlackBerry,[8] iPad,[9] iPhone, iPod,[10] Kindle,[11] Nintendo 3DS, Nokia devices, Xiaomi devices, PlayStation 3, PlayStation 4, Wii U, Xbox 360, Xbox One,[12] and several CPU sockets, including the TR4 CPU socket on some motherboards. For report relying on 170 worker informants, see, This page was last edited on 1 December 2020, at 02:31. The outbreak of the 2019 Coronavirus led to a worldwide spike in demand for masks, resulting in global shortages. In 2010, following a series of employee suicides at its factory in Shenzhen, Foxconn was criticized by labour activists, who accused the company of providing low wages and allowing employees to work past legal overtime limits. [63], The company invested $377 million in June 2014 to pick up a 4.9 percent shareholding in a South Korean IT services provider, SK C&C. Electronics, electronic components, PCBs, PCB components, computer chips. [28] However, as Sharp had undisclosed liabilities which was later informed by Sharp's legal representative to Foxconn, the deal was halted by Foxconn's board of directors. His doctors did immediate surgery to remove part of his brain,[122] "[after which] he lost his memory and can neither speak, walk". [66][68][76], Foxconn was also exempted by Governor Scott Walker from filing an environmental impact statement, drawing criticism from environmentalists. [114] These typically find far worse conditions than the 2012 Fair Labour Association audit did,[citation needed] but they rely on a far smaller number of employee informants, circa 100 to 170. Hon Hai Precision Industry Co Ld Subsidiary obtaining Foxsemicon Integrated shares 28/09/2020 12:08:36 Cookie Policy +44 (0) 203 8794 460 Free Membership Login Monitor Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. [22] At this time, Foxconn made up approximately forty percent of worldwide consumer electronics production. All that resulted from our colleagues’ hard work. Foxconn's future expansion include sites at Wuhan in Hubei province, Haizhow, Kunshan in Jiangsu province, Tianjin, Beijing, and Guangzhou in Guangdong province, China. These include but are not limited to Foxconn Precision Industry Co., Ltd., Hon Fujin Precision Industry (Shenzhen) Co., Ltd., Fu Tai Hon Precision Industry (Shenzhen) Co., Ltd., Hon Futai Precision Electronics (Yantai) Co., Ltd. and Fu Tai Hua Precision Electronics (Zhengzhou) Co., … It has invested hundreds of millions of yuan in Zhuhai, Guangdong province and Jinan in Shandong province to build chip factories since 2018, which Liu mainly promoted. USD-Equity-HHPG: GDR (EACH REPR 2 SHS)(144A)-USD-Equity- [27], On 25 February 2016, Sharp accepted a ¥700 billion (US$6.24 billion) takeover bid from Foxconn to acquire over 66 percent of Sharp's voting stock. HON HAI PRECISION INDUSTRY CO., LTD. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2018 AND 2017 (REVIEWED) (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS, EXCEPT AS OTHERWISE INDICATED) 1. [57], As of 2011, Foxconn had at least seven factories in the Johor state,[58] at Kulai, where it is developing an industrial park that includes four factories that comprise fully automated assembly lines as well as fully automated packaging lines. Hon Hai Precision Industry Co Ld. [79] Foxconn is also required to replace wetlands at a higher ratio than other companies; Foxconn must restore 2 acres of wetland for every 1 acre disturbed instead of the ratio of 1.2 to 1 for other companies. 2.Company name:Hon Hai Precision Ind. Hon Hai Precision Industry Co Ld. [134] In a letter to employees, Chairman Young Liu said, "I remember clearly how touching it was when Longhua Park produced our first mask at 4:41am on Feb. 5th. The Company's business operations include desktop and notebook PC assembly, connector production, cable assembly, PCB assembly, handset manufacturing, networking equipment, and other consumer electronic devices manufacturing. [115] The Fair Labour Association audit in 2012 used interviews with 35,000 Foxconn employees. [79], As of 4 October 2017, Foxconn agreed to locate their plant in Mount Pleasant, Wisconsin,[80] and broke ground for the plant June 28, 2018. It is the biggest supplier to Apple, and business with Apple accounts for 50% of the company's overall revenue. [20], In January 2012, Foxconn named Tien Chong (Terry) Cheng chief executive of its subsidiary FIH Mobile Limited. [10], One of the important milestones for Foxconn occurred in 2001 when Intel selected the company to manufacture its Intel-branded motherboards instead of Asus. In 2010, it was the world's largest provider of electronics manufacturing services[3] and the third-largest technology company by revenue. [127], In 2019, there was report stating that some of Foxconn's managers had used rejected parts to build iPhones. Date of events:2020/11/12. Young Liu was the semiconductor division chief as well as the vice chairman of Foxconn. As of mid-2015, Foxconn was in talks to manufacture Apple's iPhone in India. [128], Suicides among Foxconn workers have attracted the media's attention. "Foxconn Option for Henan's Migrating Millions: A New Factory in Zhengzhou. FIH Mobile is a subsidiary of Foxconn offering services such as product development and after-sales support. [46], Allegations of poor working conditions have been made on several occasions. Buetow, Mike (April 2005). Terry Gou in the meeting then wrote a word "義" which means Righteousness on the white board, saying that Foxconn should honor the deal. [120] In 2014, a court ruled that he did have to be assessed in Huizhou to receive compensation, with Foxconn offering a settlement for the father to recant his criticisms, which was refused. Their country of origin or base of operations is in parentheses. The answer might not be what you expect", "BlackBerry shares surge 15.5% on Foxconn deal", "Apple Adding More iPad Production Lines To Meet Holiday and 2011 Demand", "Kindle screen maker will increase capacity to meet demand", "iPhone, Wii U Manufacturer Admits to Employing Children", "Apple, America and a Squeezed Middle Class", "Apple Supplier Foxconn Suffers 10th Death This Year, Asks Workers To Sign Anti-Suicide Pledge", "After Foxconn Suicides, Scrutiny for Chinese Plants", "iPhone Maker Hon Hai Names New Chairman to Replace Terry Gou", "Foxconn's new chairman Liu Young-way in spotlight as iPhone assembler navigates US-China trade war", "Foxconn Forms New Board; Young Liu Succeeds Terry Gou as Chair", "Foxconn International plans new $500 million South China plant", "Foxconn owner Hon Hai buying 10 percent stake in Japanese electronics giant Sharp for $806M", "Foxconn deal to become major shareholder in Sharp falls apart", "Foxconn to buy $390 million stake in Taiwan telecom operator in 4G push", "Sharp accepts $6.24 billion takeover bid from Foxconn", "Foxconn finalises Sharp takeover' - BBC News", "Foxconn unit to buy Belkin International for $866m", "Struggle for Foxconn Girl Who Wanted To Die", "Foxcon Plans To Increase China's Workforce to 1.3 Million", "Foxconn Workers in China Say 'Meaningless' Life Sparks Suicides", "Apple, Dell, and HP comment on suicides as Foxconn CEO shows off the pool", "Apple CEO visits Foxconn's iPhone plant in China", "Foxconn replaces '60,000 factory workers with robots' - BBC News", "Filial no Brasil acusada de pressão no trabalho", "Foxconn Says Looking at Investment Opportunities in Brazil", "Foxconn to lay off 1,500 in Hungary as orders drop", http://www.foxconn.com/tr/en/hakkimizda.html, "Foxconn diversifies with stake purchase in SK C&C", "Make in India: iPhone maker Foxconn in talks to build first Apple plant in India - The Economic Times", "5 Top Places for Camping in Karnataka-Native Planet-Travel Guide-WSFDV", "Gionee to Begin Production in India With Foxconn and Dixon", "Mass Production of iPhones to Start in India", "Sharp to transfer 3,000 overseas workers to Hon Hai", "Hon Hai cadang bina 4 kilang di Malaysia", "Foxconn spinoff effect has Santa Teresa flourishing", "Foxconn: Arson at Mexico Plant Work of Angry Ex-Employee", "Citigroup Likes Hon Hai's Purchase of Set-Top Box Plant", "Foxconn announces new factory in Wisconsin in much-needed win for Trump and Scott Walker", "State wouldn't break even on Foxconn incentives for 25 years", "$3B to Foxconn largest state 'gift' to a foreign company? 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