[77] The plant was estimated to contribute significantly to air pollution in the region. [56] Its Chairman Terry Gou said that the manufacturing will take place in the southern city of Chennai. Hon Hai Precision Industry Co., Ltd. We have audited the accompanying consolidated balance sheets of Hon Hai Precision Industry Co., Ltd. and subsidiaries as of December 31, 2015 and 2014, and the related consolidated statements of comprehensive income, of changes in equity and of cash flows for the years then ended. Concerns increased in early 2012 due to an article published in The New York Times in October 2011. [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. Tucheng [33], Another Foxconn factory "city" is located at Zhengzhou Technology Park in Zhengzhou, Henan province, where a reported 120,000 workers are employed as of 2012.[42]. Hon Hai Precision Industry Co., Ltd., trading as Foxconn Technology Group and better known as Foxconn, is a Taiwanese multinational electronics contract manufacturer with its headquarters in Tucheng, New Taipei City, Taiwan. [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. [55] In April 2019 Foxconn reported that they are ready to mass-produce newer iPhones in India. [111] It reported evidences that substantiated some of the criticisms. [66][68][76], Foxconn was also exempted by Governor Scott Walker from filing an environmental impact statement, drawing criticism from environmentalists. [4] The company is the largest private employer in Taiwan[5] and one of the largest employers worldwide. 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. Hon Hai Precision Industry – Foxconn Electronics – is looking to have at least seven of its subsidiaries listed – either on Taiwan's over-the-counter stock market or the Taiwanese stock exchange – before the en of 2015. 12 November 2020 Subject:Merger involves Mainland China Subsidiaries. Hon Hai Precision Industry Co., Ltd. provides electronic manufacturing services for computers, communications, and consumer electronic products. [106] In May 2010, Shanghaiist reported that security guards had been caught beating factory workers.[107]. It not only supplied the group’s need for epidemic prevention, it also contributed to the general public and boosted the morale of the group. In reaction to a spate of negative press, particularly that involving worker suicides in which 14 people died[108] from January to May 2010, Steve Jobs defended Apple's relationship with the company in June 2010, citing that its Chinese partner is "pretty nice" and is "not a sweatshop". [45] The company is considering more investments in Brazil.[46]. [6][7] Its founder and chairman is Terry Gou. ", "Wisconsin's $4.1 billion Foxconn factory boondoggle", "Did Scott Walker and Donald Trump Deal Away the Wisconsin Governor's Race to Foxconn? In 2010, it was the world's largest provider of electronics manufacturing services and the third-largest technology company by revenue. [129] In reaction to a spate of worker suicides in which 14 people died in 2010,[108] Foxconn installed suicide-prevention netting at the base of buildings in some facilities[132] and promised to offer substantially higher wages at its Shenzhen production bases. [112][113] A Hong Kong non-profit organisation, Students and Scholars Against Corporate Misbehavior, has written numerous negative reports on Foxconn's treatment of its employees, for example in 2010 and 2011. [56], Foxconn and Sharp Corporation jointly operate two manufacturing plants specialising in large-screen televisions in Sakai, Osaka. It is the biggest supplier to Apple, and business with Apple accounts for 50% of the company's overall revenue. Hon Hai Precision Industry Co., Ltd., trading as Foxconn Technology Group and better known as Foxconn, is a Taiwanese multinational electronics contract manufacturer with its headquarters in Tucheng, New Taipei City, Taiwan. [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. That year, the nets seemed to help lower the death rate, although at least four employees died by throwing themselves off buildings. Hon Hai Precision Industry Co., Ltd. : We have audited the accompanying consolidated balance sheets of Hon Hai Precision Industry Co., Ltd. (the "Company") and its subsidiaries as of June 30, 2004 and the related consolidated statements of income, of changes in 6.Countermeasures: Hon Hai Precision Industry may be the biggest electronics company you never heard of. The rest of the business has been sold to a new Finland-based company HMD Global, who started developing and selling new Nokia-branded devices from early 2017. Date of events:2020/11/12. [133] In 2011, Foxconn also hired the PR firm Burson-Marsteller to help deal with the negative publicity from the suicides. [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. [26], In 2014, the company purchased Asia Pacific Telecom and won some spectrum licenses at an auction, which allowed it to operate 4G telecommunications equipment in Taiwan. [34], The largest Foxconn factory is located in Longhua Town, Shenzhen, where hundreds of thousands of workers (varying counts include 230,000,[33] 300,000,[35] and 450,000[36]) are employed at the Longhua Science & Technology Park, a walled campus[10] sometimes referred to as "Foxconn City". [22] At this time, Foxconn made up approximately forty percent of worldwide consumer electronics production. [48] Other products include components such as connectors, cable assemblies, enclosures, flat … Major iPhone assembler Hon Hai Precision Industry Co. Ltd. is set to list its second subsidiary on the Chinese mainland, after the float of its first unit garnered overwhelming traction from investors in June.. Avary Holding (Shenzhen) Co. Ltd., a maker of printed circuit board (PCBs) under Taiwan’s Hon Hai, better known by its trade name, Foxconn, was issued a formal approval notice by … [102], Foxconn has been involved in several controversies relating to employee grievances or treatment. Foxconn manufactures electronic products for major American, Canadian, Chinese, Finnish and Japanese companies. history. The outbreak of the 2019 Coronavirus led to a worldwide spike in demand for masks, resulting in global shortages. [43], All company facilities in South America are located in Brazil,[44] and these include mobile phone factories in Manaus and Indaiatuba as well as production bases in Jundiaí, Sorocaba, and Santa Rita do Sapucaí. The company is the largest private employer in Taiwan and one of the largest employers worldwide. [54] In September 2016 Foxconn started manufacturing products with Gionee. Foxconn asked to call off the deal but it was proceeded by the former Sharp president. [117], Foxconn started producing medical masks and clothing at its Shenzhen factory in China on February 5th, 2020 during Chinese New Year and height of the COVID-19 pandemic. Hon Hai Precision is the world's largest contract manufacturer of consumer electronics, communications and computer products. Reuters quoted Foxconn saying that 2.7 percent of its workforce in China were long or short-term interns. USD-Equity-HHPG: GDR (EACH REPR 2 SHS)(144A)-USD-Equity- [29] A month later, on 30 March 2016, the deal was announced as finalised in a joint press statement, but at a lower price. Contents: 1.Type of merger and acquisition (e.g., merger, spin-off, acquisition, or share transfer):Merger. 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. [64][65] As part of the agreement, Foxconn was set to receive subsidies ranging from $3 billion to $4.8 billion (paid in increments if Foxconn met certain targets), which would be by far the largest subsidy ever given to a foreign firm in U.S. All that resulted from our colleagues’ hard work. Buetow, Mike (April 2005). In response, Foxconn announced that it has stopped the interns' illegal overtime work at the factory, where 3,000 students had been hired that September. [117], There was also a series of suicides which were linked to low pay in 2010. 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. [112], In January 2012, about 150 Foxconn employees threatened to commit mass-suicide in protest of their working conditions. Select instrument to view. FIH Mobile is a subsidiary of Foxconn offering services such as product development and after-sales support. [81][82], In January 2019, Foxconn said it was reconsidering its initial plans to manufacture LCD screens at the Wisconsin plant, citing high labor costs in the United States.[83]. [117] In January 2018, another suicide was reported by a factory worker, after 31-year old Li Ming jumped to his death off a building in Zhengzhou, where the iPhone X was being manufactured. The following list consists of Foxconn's present or past major customers. 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? [14][15], Hon Hai Precision Industry Co. named Young Liu its new chairman to replace founder Terry Gou, effective on July 1, 2019. Search by instrument name, code or ISIN. Foxconn in return issued a statement questioning Guo's allegations, arguing workers wanted to work overtime to earn more money. [99], On 18 May 2016, FIH Mobile announced the purchase of Microsoft Mobile's feature phone business. Equity (2) Code Instrument name Price Change Type Documentation ; HHPD: GDR (EACH REPR 2 SHS)(REG S) 6.28. [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. Young Liu was the semiconductor division chief as well as the vice chairman of Foxconn. To Hon Hai Precision Industry Co., Ltd. Introduction We have reviewed the accompanying consolidated balance sheets of Hon Hai Precision Industry Co., Ltd. and its subsidiaries as at March 31, 2019 and 2018, and the related consolidated statements of comprehensive income, of changes in equity, of cash flows and notes to the Hon Hai Precision Industry Co., also known by its trade name, Foxconn, is the world's largest contract electronics manufacturer. The list is provided in alphabetical order. The company initially said the masks it makes will be for internal employee use. He also served as chairman of the company's chip unit in Zhuhai, Guangdong province. n Hon Hai Precision Industry′s statements of its current expectations are forward looking statements subject to significant risks and uncertainties and actual … [103] In China, it employs more people than any other private company as of 2011. HON HAI PRECISION INDUSTRY CO. LTD instruments. [117], In January 2012, there was a protest by workers about conditions in Wuhan, with 150 workers threatening to commit mass suicide if factory conditions were not improved. [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. It was the simplest yet most important product Foxconn has ever made. 2.Company name:Hon Hai Precision Ind. The company, more commonly known by its trade name, Foxconn, is the world's largest contract electronics manufacturer. Hon Hai Precision is the world's largest contract manufacturer of consumer electronics, communications and computer products. Microsoft Mobile Vietnam is also part of the sale to FIH Mobile, which consists of the Hanoi, Vietnam manufacturing facility. Taiwan, Hon Hai’s Profit Beats Estimates Ahead of New IPhones, Foxconn Expands its Automotive Business to Boost Future Growth, Meet Taipei 2020 kicked off at Taipei Expo Dome. [17] One of the key directions of Foxconn is to focus its strength on semiconductors. His doctors did immediate surgery to remove part of his brain,[122] "[after which] he lost his memory and can neither speak, walk". In response to the scrutiny, Foxconn said it would cut overtime from the current 20 hours per week to less than nine hours a week. [13], Foxconn has been involved in several controversies. [38], Covering about 3 km2 (1.2 sq mi),[39] the park includes 15 factories,[37] worker dormitories, 4 swimming pools,[40] a fire brigade,[10] its own television network (Foxconn TV),[10] and a city centre with a grocery store, bank, restaurants, book store and hospital. [20], In January 2012, Foxconn named Tien Chong (Terry) Cheng chief executive of its subsidiary FIH Mobile Limited. Now that Young Liu has taken the helm, the Foxconn Technology Group (Hon Hai Precision Industry) has begun a series of transformations targeting … Insights on the Electronics Manufacturing Services Market 2020-2024: COVID-19 Industry Analysis, Market Trends, Market Growth, A2Z Smart Technologies Announces Final Closing of its previously announced Private Placement for aggregate gross proce, A2Z Smart Technologies Announces Receipt of Subscription Agreements for aggregate gross proceeds of CAD$8,344,000 in c, Interactive Whiteboard Market Procurement Intelligence Report with COVID-19 Impact Analysis | Global Forecasts, 2020-2024, A2Z Smart Technologies Provides Update of its Previously Announced Private Placement and Acquisition of Common Shares, Spectra7 Partners With Foxconn to Deliver Next Generation 800Gbps Data Center Interconnects, AI Chipmaker Hailo Launches Top-Performing M.2 and Mini PCIe AI Acceleration Modules to Enhance Performance of Edge Devices, Smart Education and Learning Management Market Size is Projected to Reach USD 270,630.32 Million by 2025 | Valuates Reports, A2Z Smart Technologies Qualifies to Trade on OTCQX. 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