Hon Hai Precision Industry, known by the name Foxconn, is the world’s largest electronics manufacturing company. Foxconn has acquired an 8.88% full-diluted stake in GoPro for $200 million. You may know GoPro best for their versatile cameras used by athletes. Foxconn founder and CEO will join GoPro’s board of directors. Some of the electronics that Foxconn builds include the Apple iPhone, Apple iPad, Sony PlayStation, and Microsoft Xbox.
Apple supplier Foxconn Electronics is planning to establish manufacturing plants in the United States. The company is looking at locations in Detroit and Los Angeles according to people in the industry. Supposedly these plants would focus on LCD TV production, which would be highly automated and easier than the production of the iPhone 5.
Terry Gou, the chairman of Hon Hai Precision (known as the parent company of Foxconn) is urging consumers to “wait for the launch of the iPhone 5″ because “the new model will put the Samsung Galaxy III to shame.” At the Hon Hai annual shareholder meeting, Gou said that their deal with Sharp Corporation will enhance Hon Hai’s marketing and manufacturing strengths, resulting in the ability to defeat Samsung in the next 3-5 years.
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According to Chinese blog Ynet, over 70% of Apple’s iPhones are now being made at Foxconn’s Zhengzhou plant. To get a better idea of what the Zhengzhou plant looks like, the video below has Foxconn CEO Terry Gou giving a tour of the plant. Gou starts the video by taking the reporter on a helicopter tour to show the size of the factory. Check out the video below:
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“Hon Hai has a workforce of over one million worldwide and as human beings are also animals, to manage one million animals gives me a headache,” stated Hon Hai chairman Terry Gou at a recent party. Gou pointed out that he wants to learn from Taipei Zoo director Chin Shih-chien about how animals should be managed. Gou invited Chin and all general managers in the group to listen to Chin’s lecture at the company’s annual review meeting.
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In an effort to to increase production possibilities and reduce labor costs, Foxconn plans on replacing some of their workers with 1 million robots over the next three years. The announcement was made by Foxconn chairman and founder Terry Gou. Foxconn is best known for manufacturing the iPhone, iPad, and other consumer electronics in Shenzhen, China.
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Foxconn will no longer provide suicide compensation to families of dead employees. The company believes this will help curb suicides from happening in the first place. Foxconn CEO Terry Gou said that when an employee commits suicide, the family is given money that is equivalent to 10 years of salary. This may have been a major motivation of the suicides.
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