Hon Hai Precision Ind Co Ltd along with its subsidiaries is engaged in the manufacture, sales and service of connectors, case, thermal module, wired/wireless communication products, optical products, power supply modules, and assemblies. Hon Hai Precision Ind Co ltd is the anchor company of Hon Hai / Foxxconn Technology Group.
The Foxconn Technology Group is one of the biggest producer in the electronic industry worldwide. It was founded in 1974 by Terry Gou as Hon Hai Precision Co. Ltd. The group holds 25,000 patents worldwide. Foxconn engages in six types of core technologies, including manufacturing computers, telecommunication, consumer electronics, digital contents, car electronics, and channel business. Apart from retail products, Foxconn is supplier for Apple, Microsoft and others and produces their iPads, Xboxes and other gadgets.
According to its CSR report 2010, Foxconn employed 935,000 workers (p. 14).
Most of the factories are located on Chinese mainland, but also in Mexico, Slovakia and the Czech Republic. Foxconn also entered a joint venture with German retail group Metro and opened the first Mediamarkt in China (Shanghai) in 2010. As of 31.12.2011, there were 7 Media-Saturn stores in China.
In 2011, Foxconn achieved net sales of nearly 117 billion $ US (app. 66 billion Euro) and a gross profit of 8 billion $ US (6.5 billion Euro).
After surveys by the American Fair Labor Association (FLA), Foxconn raised salaries at its Chinese plants by 25%, now paying the workers 1800 to 2500 Yuan per month (217- 300 Euro).
Investment information correct as at publication date of Dirty Profits 1, December 2012.
Investment funds according to onvista