Definition: Foxconn

The world's largest contract electronics manufacturer and China's largest private employer. Officially Hon Hai Precision Industry Co. Ltd., Foxconn was founded in 1974 by Terry Gou. Headquartered in Taiwan, Foxconn employs nearly a million people in Europe, India, Brazil and Mexico, but mostly in China with the largest facility in the Longhua district of Shenzhen. Foxconn makes products for companies around the world, including Apple, Microsoft, Amazon, HP and IBM. Where Foxconn makes iPhones in Zhengzhou, China, locals call it "iPhone City." With Apple playing a significant role in training Foxconn employees, the company has also been involved in making iPods, iPads and MacBooks.

Nobody Can Compete
The Chinese government has spent billions in support of the company, and Foxconn's customers claim that no organization in the world is as capable, flexible and committed to meet large-scale deadlines and respond to last minute changes.

A Lot of Notoriety
Years ago, Foxconn was in the news for the harsh treatment of its employees, many of whom live and work in company dormitories and endure long shifts. After a number of suicides in 2010, nets were draped around the buildings to prevent people from jumping out of windows. In addition, over the years, many workers developed problems with their hands due to the repetitive motion required in their jobs.