Hon Hai Precision Industry—better known as Foxconn—is the world’s largest manufacturer of electronic parts and servers, and in 2021 it continued to benefit from the boom in consumer demand for electronics. It earned $214.6 billion in revenue in 2021—a record high—as pandemic-era work-from-home and virtual-learning habits encouraged consumers to update their devices. Foxconn is Apple’s largest manufacturing partner for iPhones, but even after a strong year for smartphones worldwide—unit sales increased 7% globally—Foxconn kept up ongoing efforts to limit its reliance on its relationship with the Cupertino, Calif., giant. Foxconn is aiming to secure a foothold in electric vehicles, robotics, and digital health by investing in the manufacture of three new technologies—A.I., semiconductors, and communication devices that run on 5G and 6G wireless networks.
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