Hon Hai Precision Industry Co. (Foxconn) reported record sales for May at NT$615.75 billion (US$20.6 billion), up 11.92% from the same month last year.

This surpasses the previous May 2024 record of NT$550.2 billion (US$18.4 billion).

However, sales declined 3.99% compared to April.

Analysts credit the annual growth to increased iPhone shipments, boosted by China’s June 18 online shopping festival.

For January to May 2025, consolidated sales hit NT$2.899 trillion (US$96.9 billion), marking a 21.65% year-on-year increase.

It was driven by strong performance in cloud, networking, electronic components, and computing sectors.

Looking ahead, Foxconn expressed cautious optimism for Q2, expecting both year-on-year and quarter-on-quarter growth.

🔗 Source: Focus Taiwan

🧠 Food for thought

1️⃣ From plastic parts to trillion-dollar manufacturing: Hon Hai’s remarkable transformation

Hon Hai’s record-breaking May sales reflect a remarkable growth trajectory from humble beginnings.

Founded by Terry Gou in 1974 as a plastic components manufacturer for TVs, the company pivoted to connectors and cable assemblies in the 1980s before securing its first major breakthrough with Dell in 1995 1.

This strategic shift transformed Hon Hai from a company with just $0.5 billion in revenue in 1996 to a $135 billion giant by 2014, primarily through its electronics manufacturing services (EMS) model 1.

The company’s partnership with Apple has been particularly transformative, with Hon Hai reportedly manufacturing approximately 500 million iPhones since 2007 1.

This growth trajectory continues today with Hon Hai’s revenue for the trailing twelve months reaching NT$7.18 trillion (approximately USD 240 billion), demonstrating a remarkable compounded annual growth rate of 46% since 1996 2.

2️⃣ Strategic pivot to AI accelerates Hon Hai’s growth beyond consumer electronics

Recent Foxconn developments