According to reports, Alphabet, the parent company of Google, is in advanced negotiations to move some of the manufacturing of its Pixel smartphones from Vietnam to India. According to a media report, two weeks ago, Alphabet concluded the initial round of talks with its contract manufacturers, Foxconn and Dixon Technologies.
A media house has also been informed by two industry officials that the corporation intends to localise the production of certain smartphone components, including batteries, chargers, fingerprint sensors, and enclosures. The majority of components are currently imported from the United States. Since President Donald Trump imposed significant tariffs on Vietnam, the Pixel manufacturer intends to be on the safer side.
Trade War Between the US and Vietnam Calling for the Shift
While the United States announced a 46% duty on Vietnamese imports, India is subject to a far lower rate of 26%. The 10% baseline tariffs remain in effect even though Trump declared on April 9 that reciprocal duties would be suspended for 90 days.
However, China had no reprieve. The Trump-led administration maintained the 145% penalty on the Asian economic powerhouse as a form of retribution against the US reciprocal tariff policy, even though other countries were excluded from it. In 2023, the firm announced that it would start producing its Pixel 8 series smartphones in India.
A year later, it signed a contract with Dixon Technologies, a local contract manufacturer, to begin production. Last year, the multinational tech giant began negotiations with Foxconn to build its Pixel series.
Google and Apple Locking Horns on India
At the time of Google’s partnership with Dixon, it was determined that the contract manufacturer would produce one lakh Pixel smartphones in the country each month. Out of those, approximately 25% to 30% of the units are scheduled for export.
Foxconn has been producing 43,000 to 45,000 units per month for Alphabet, according to a media report. This initiative coincides with rival Apple’s plans to boost its iPhone manufacture in India. The goal of Foxconn, the Indian contract maker of iPhones, is to boost production from 12 million to 25 million handsets. The nation’s electronic manufacturing sector is poised to grow into a massive potential.
At the moment, the nation produces roughly 33 crore mobile phones. As per the Economic Survey 2024-25, India has reduced its dependency on imports of cellphones since 99% of them are manufactured in India alone.
Some Pixel units are manufactured in China in addition to Vietnam and India. In an attempt to lessen its dependency on Chinese manufacturing, Google moved the production of Pixels to Vietnam in 2023, mostly through Foxconn and Compal. According to reports, last year almost half of all high-end Pixel models were put together in Vietnam.
Foxconn, the leading worldwide supplier to Apple, is apparently considering establishing a production plant in Greater Noida, Uttar Pradesh. The business is purportedly interested in a 300-acre tract of land along the Yamuna Motorway, according to a media outlet that reported on the 14th. The plant would be Foxconn’s first presence in North India and might even be bigger than its next location in Bengaluru. The corporation and the government are reportedly in preliminary discussions, and specifics regarding the goods that will be produced have not yet been decided. The report went on to say that Foxconn benefits from a safety net and improved access to new electronics manufacturing services (EMS) prospects as a result of growing its operations in India. Like Chennai, Greater Noida is developing into a strong centre for electronics production, supported by a thriving supplier network and enabling infrastructure.
More Details of the Land
The HCL-Foxconn joint venture has already obtained 50 acres for an outsourced semiconductor assembly and test (OSAT) facility in the specified area, which is located in the same zone as the Yamuna Motorway Industrial Development Authority (YEIDA). The government has yet to approve that project. Strategic connection is another advantage of the planned location, as it is close to the future Jewar airport and important highways in the National Capital Region.
Foxconn Spreading its Business Operations in India
The action is a component of Foxconn’s larger plan to diversify and grow its Indian manufacturing base. The Taiwanese electronics giant recently closed its operations in Sri City, Andhra Pradesh, and currently has facilities in Tamil Nadu, Karnataka, and Telangana. With the United States imposing import tariffs ranging from 10 to 50%, the development coincides with ongoing global supply chain realignments and geopolitical unpredictability. A 90-day tariff delay has been imposed on other nations, while China has been hit with an unprecedented 145% tax. India’s exports were subject to a 26% tariff. In the meantime, Apple has been shifting its production to India. India is now expected to produce $22 billion worth of iPhones, according to reports that surfaced recently. According to a previous study by an international news agency, India currently produces about 20% of the world’s iPhones. In the most recent fiscal year, which concluded on March 31, 2025, the tech giant shipped iPhones from India valued at INR 1.5 trillion ($17.4 billion).
Apple Airlifts 600 Tonnes of iPhones from India
After increasing manufacturing in India to try to get around President Donald Trump’s tariffs, tech giant Apple hired cargo planes to transport 600 tonnes of iPhones—up to 1.5 million—to the US from India. As per a media report, the move’s specifics shed light on the American smartphone company’s change of plan. Apple has taken this step to increase its stock of iPhones in the US. Given Apple’s heavy reliance on imports from China, the primary location for iPhone manufacturing, which is subject to Trump’s maximum tariff rate of 125%, analysts have cautioned that the price of iPhones in the United States may rise. That amount is significantly more than the 26% duty on Indian imports, which is currently on hold after Trump announced a 90-day truce this week that does not apply to China. Apple “wanted to beat the tariff”, as reported by a media house. The corporation pushed Indian airport authorities to reduce the 30-hour customs clearance period at Chennai airport in Tamil Nadu’s southern region to six hours.
According to a media report, Apple has significantly changed its global supply chain strategy by increasing its iPhone production in India to an all-time high. Now the tech giant assembles smartphones valued at $22 billion in India. The action is a reflection of Apple’s increased efforts to expand its manufacturing presence in India and lessen its dependency on China. About 20% of all iPhones made worldwide are currently made in India, where production of the device increased by about 60% in the past year, according to the report. This effort follows India’s Production-Linked Incentive (PLI) program, which has been instrumental in drawing in large international electronics firms. India’s IT and Electronics Minister Ashwini Vaishnaw disclosed earlier this week that during the fiscal year that ended in March 2025, Apple exported iPhones valued at INR 1.5 trillion, or roughly $17.4 billion. Three iPhone assembly facilities are now run by Apple in India: two in Tamil Nadu and one in Karnataka. Two of the Tamil Nadu plants are run by the Tata Group, while the other one is run by the Taiwanese behemoth Foxconn.
Apple Urging Suppliers to Establish Units in India
China, Japan, and Taiwan vendors have been actively encouraged by Apple to set up production facilities in India. Important component producers have already started production in the nation, including Foxlink (cables), Sunwoda (battery packs), and Aequs (enclosures). There has also been a notable increase in local content in Apple’s iPhones manufactured in India. Just 5–8% of the parts in different models were sourced locally when Apple started manufacturing in India in 2020. That percentage has now increased to about 20%. According to reports, Apple has branched out beyond the basic iPhone models, indicating a growing trust in its Indian business. According to Bloomberg, the company has begun constructing the more expensive iPhone 16 Pro models in India, although it first concentrated on assembling the entry-level iPhone 15 model.
All Developments Favouring India
Additionally, the spike in iPhone exports from India seems to be well-timed in relation to recent trade developments in the United States. As per various media reports, Apple’s exports to the United States from India have increased significantly since the Trump administration imposed high tariffs on Chinese goods. In order to deal with the new tariff environment, Apple is anticipated to give its India supply chain top priority for iPhone shipments headed to the United States. The Trump administration declared on 12 April that laptops, smartphones, and other important equipment will be temporarily spared from the reciprocal duties. As a result, iPhones manufactured in India will not be subject to additional taxes for the time being, while iPhones from China will also be subject to a 20% tariff rate, which is much less than the entire 145% that would otherwise be applicable.
After increasing manufacturing in India to try to get around President Donald Trump’s tariffs, tech giant Apple hired cargo planes to transport 600 tonnes of iPhones—up to 1.5 million—to the US from India. As per a media report, the move’s specifics shed light on the American smartphone company’s change of plan. Apple has taken this step to increase its stock of iPhones in the US. Given Apple’s heavy reliance on imports from China, the primary location for iPhone manufacturing, which is subject to Trump’s maximum tariff rate of 125%, analysts have cautioned that the price of iPhones in the United States may rise. That amount is significantly more than the 26% duty on Indian imports, which is currently on hold after Trump announced a 90-day truce this week that does not apply to China. Apple “wanted to beat the tariff”, as reported by a media house. The corporation pushed Indian airport authorities to reduce the 30-hour customs clearance period at Chennai airport in Tamil Nadu’s southern region to six hours.
Special Arrangements Made to Airlift iPhones
Apple uses a similar approach at various Chinese airports, and the so-called “green corridor” structure at the airport in the manufacturing base in India was modelled after it. According to an Indian government official, since March, about six cargo jets with a capacity of 100 tonnes apiece have taken off, including one this week right before new tariffs went into effect. As reported in the media, an iPhone 14 and its charging connection weigh approximately 350 grams (12.35 oz) when wrapped. This suggests that, after deducting some packaging weight, the 600 tonnes of freight included roughly 1.5 million iPhones. According to Counterpoint Research, India now accounts for a fifth of all iPhone imports into the US, with China accounting for the remaining portion. Apple sells over 220 million iPhones annually worldwide.
Foxconn Plant Operational of Sundays as Well
Apple increased air shipments to India in order to reach its target of a 20% increase in regular production at iPhone factories. According to a media site, the company has increased staff in order to achieve this aim. Also, it has temporarily extended production operations at the largest Foxconn India facility on Sundays as well. Last year, the plant produced 20 million iPhones, including the most recent versions, the 15 and 16. Apple has set up India for a crucial role as it expands its production outside of China. Its two primary suppliers, Foxconn and Tata, currently operate three factories there, with two more under construction.
Amid declines in Xiaomi orders, Foxconn’s India subsidiary Bharat FIH is allegedly considering changing its strategy. This step is taken to concentrate on Apple’s supply chain service rather than competing in the electronics manufacturing services (EMS) market. Bharat FIH, which has been struggling since a number of its board members left last year, has reorganised its board. Now the firm has added two new independent directors: Payal Koul Mirakhur, cofounder and chief business officer of UExcelerate, and Arun Todarwal, a chartered accountant. Mirakhur joined the board of Bharat FIH in September 2024, according to her LinkedIn page. The board now consists of Abraham Joseph as managing director, Yu Yang Chih and Kam Wah Danny Tam as non-executive directors, and chairman Hui Chung Chen, according to the company’s official website.
Moving Away from EMS Market
According to a media report, Bharat FIH is trying to change its course after encountering a snag because of a sharp decline in orders from its main customer, Xiaomi. According to a media report, the business is now providing equipment maintenance and servicing for Apple suppliers. Thus far, the EMS company has collaborated with Tata Electronics-owned Pegatron and Wistron, as well as Foxconn Hon Hai at its Bengaluru and Chennai facilities. According to a source, Bharat FIH has been working on this project for the past year or so and wants to become an independent service provider to these players. Bharat FIH has personnel on hand who are trained to examine the maintenance of these devices, which are positioned at the locations of Apple suppliers. Formerly known as Rising Stars Mobile India, Bharat FIH was founded in Andhra Pradesh in 2015.
The company is a well-known supplier of smartphones from major brands like Apple and Xiaomi and is among the biggest EMS companies in the nation. In addition to assembling iPhones for Apple, it also manufactures televisions, hearables, telecom network equipment, mobile phones, and parts for electric vehicles. Bharat FIH operates two additional facilities in Sungavarchatram and Sriperumbudur, close to Chennai, India, in addition to its Sri City plant in Andhra Pradesh. According to information on its website, it currently has 25,000 employees.
Foxconn Aims to Increase iPhone’s Production
Foxconn plans to expand its iPhone production to 25–30 million devices at its facilities in India during the current year. Over the past three to four months, the manufacturer has been experimenting with limited testing activities at its new Bengaluru facility. This testing is done to check if the company can build Apple’s flagship product at scale without compromising quality standards. The iPhone manufacturer will receive an incentive of INR 6,970 Cr under the state’s Electronics System Design and Manufacturing (ESDM) policy in early March, according to Karnataka Chief Minister Siddaramaiah’s state budget speech.
According to reports, Foxconn, Apple‘s contract manufacturer in India, plans to double iPhone manufacturing at its Indian facilities to 25–30 million handsets this year. A media outlet reported that throughout the previous three to four months, the firm has been experimenting with limited testing operations at its new Bengaluru site. The tests are being carried out to see if the facility can manufacture Apple’s flagship product on a large scale without compromising quality standards. According to media sources, the corporation built over 12 million iPhones in India last year. However, they have set much greater goals in keeping with Apple’s drive to increase their footprint in India. In 2023, the Taiwanese electronics company purchased a 300-acre property close to Bengaluru airport. The project’s establishment has been funded with INR 25,000 Cr from the firm. When finished, the facility will be able to produce 20 million smartphones a year. Hence, making it Foxconn’s largest manufacturing plant in India and the second largest globally.
Karnataka Government to Grant Incentive to Foxconn
Karnataka Chief Minister Siddaramaiah said earlier this month that Foxconn would receive an incentive of INR 6,970 Cr from the state government for its Bengaluru facility under the Electronics System Design and Manufacturing (ESDM) programme. According to official projections, the new plant would generate one lakh direct and indirect jobs over the next ten years. It is important to note that throughout the past few months, the Taiwanese corporation has been aggressively expanding in the nation. According to a report last week, the corporation and its joint venture partner HCL are planning to set up an outsourced semiconductor assembly and testing (OSAT) facility. Both the firms are in talks with Larsen & Toubro (L&T) and Taiwanese construction engineering company CTCI to install this unit in the state of Uttar Pradesh. Additionally, it is rumoured to be in talks with the Tamil Nadu government to establish a battery manufacturing facility on roughly 200 acres of state property.
Foxconn Spreading its Network in India
As the Tim Cook-led business seeks to diversify its supply chain and lessen reliance on China, Foxconn’s attempt to increase its footprint in India is consistent with Apple’s intentions to manufacture its goods in India. By 2026–2027, the business reportedly hopes to assemble 26% of its value and 32% of its global iPhone production volume in India. According to various reports, India accounted for 12–14% of the world’s iPhone production volume. During the fiscal year, the tech giant’s iPhone production in India hit a value of $14 billion. In an effort to expand its network of suppliers and manufacture parts of its goods in India, the US-based business is also in discussions with Indian businesses, including Wipro Enterprises and Bharat Forge. India has become a vital market for Apple in addition to becoming a centre for production. Over the last few quarters, the company has witnessed a notable increase in sales across the nation. In the December quarter of 2024, Apple reported record quarterly sales in India, according to CEO Cook.
According to reports, electronics companies Dixon Technologies and Foxconn have pleaded with Indian authorities to pay INR 700 Cr in outstanding debts. The payments relate to the subsidies covered by the Centre’s production-linked initiative (PLI) program that the two Apple vendors are eligible to receive. According to a media citing, if the government makes the money available, Foxconn might get up to INR 600 Cr, while domestic Dixon might earn INR 100 Cr. Authorities are allegedly examining the two requests at this time, according to sources. Even though the Centre has allotted more than INR 41,000 Cr for the smartphone PLI scheme, certain companies have not yet received their share of the subsidies since they have not met their production targets.
What the Argument is All About?
Dixon and Foxconn have both maintained that they qualify for a portion of the unallocated funding. According to the report, Foxconn produced iPhones valued at INR 30,000 Cr in the fiscal year 2022–2023 (FY23), which is significantly more than the INR 20,000 Cr benchmark set by the government. In FY24, Dixon, a domestic company, produced cellphones valued at INR 8,000 Cr, surpassing the INR 6,000 Cr goal. Electronics manufacturers are eligible for subsidies under the INR 41,000 Cr PLI scheme if they surpass specific yearly value-based limits. Additionally, the program gives eligible applicants who surpassed their predetermined output any unused subsidies that were due to applicants not reaching their set goals.
Government has Put Scanner on Dixon
Dixon’s case, though, seems to be a complex one. The Centre is allegedly investigating whether the domestic electronics maker invested in new ventures to produce Xiaomi smartphones or if “machines were merely shifted out of another factory” that had previously put together the Chinese brand’s products. This occurs as a growing number of multinational industrial titans are heading straight for India to take advantage of the benefits and incentives provided by the Indian government through its numerous PLI programs. Samsung likewise rapidly increased its production in India, even as Apple manufactured $14 billion worth of iPhones there in FY24.
An Important Test for Modi Government
Modi’s industrial policy aspirations are put to the test in the unallocated funds issue, despite the comparatively little amount of money at stake. As they diversify beyond China, businesses want to see the administration implement the policies that have resulted in large investments. For example, Apple partners assembled $14 billion worth of iPhones domestically during the previous fiscal year. Samsung Electronics Co. of South Korea has also used the scheme to increase exports.
As India attempts to attract chipmakers and giant corporations like Microsoft Corp., which intends to invest billions in the most populous nation in the world to promote cloud computing and artificial intelligence, the stability of Indian policymaking becomes even more crucial.
According to reports, Foxconn, a Taiwanese electronics giant, is in talks with the Tamil Nadu government about growing its battery manufacturing operations in India. The Tennessee government has approached Foxconn, the largest contract manufacturer in the US, about 200 acres of property for the company’s proposed battery energy storage system (BESS) unit, according to media reports. Energy from both renewable and nonrenewable sources is typically locked and stored in batteries via a battery energy storage system.
Talks are in Final Stage
According to the reports, Foxconn has not yet made a decision, but the negotiations are nearing a close, and the business is probably going to move on with the project at the designated property in Tamil Nadu, as chairman Young Liu stated during his visit to India. During his August trip to India, Liu allegedly disclosed the Taiwanese electronics manufacturer’s intentions to establish a BESS facility there. With the first facility already established in Taiwan, the firm is aiming to increase its market share in the electric vehicle sector.
It is important to remember that the Tennessee unit would be the second BESS unit in the world after the talks and state government clearance. According to the sources, Foxconn has also received an incentive package from the Tamil Nadu government.
Manalur in Tiruvallur District Most Likely to Become Manufacturing Plant’s Destination
The state also provided Foxconn property in the Tiruvallur district, close to Manalur. According to sources, the union government was preparing to issue tenders for the establishment of 10 gigawatts (GW) of battery energy storage projects in order to bolster India’s standing in the energy storage market. This news comes shortly after that. Foxconn was also thinking about investing about $1 billion (INR 8,354 cr) to establish a smartphone display module assembly plant in TN, which would be the company’s first facility of that kind in India.
About Foxconn
The largest electronics firm in the world, Hon Hai Technology Group (Foxconn), was founded in Taiwan in 1974. As the top supplier of technical solutions, Foxconn consistently uses its knowledge of hardware and software to combine cutting-edge technology with its distinctive manufacturing techniques. The Group’s long-term growth strategy and its four main product pillars—Smart Consumer Electronics, Cloud and Networking, Computing Products and Components, and Others—are fuelled by the three technologies it has expanded into: artificial intelligence (AI), semiconductors, and new-generation communications technology. It has also expanded its capabilities into the development of electric vehicles, digital health, and robotics.
Hon Hai’s yearly income in 2023 was USD 198 billion. The company has set up manufacturing and research and development facilities in a number of international markets, including the United States, China, India, Japan, Vietnam, Malaysia, and the Czech Republic. The corporation has more than 57,729 patents and focuses on research and development.
With steady growth, the tech industry is growing at an impressive 5.3% rate. The industry occupied around 35% of the total market base. And the count of tech companies is increasing with a high amount. For instance, the highest count of tech companies is based in the United States, with a count of more than 500 thousand.
And it’s true that regardless of their origin industry, the means of technology is acquired by everyone, and so is every industry. Technology covers all sectors, including hardware, software, online services, tools, and cybersecurity solutions.
Speaking of the tech industry, we are here to make you familiar with the top tech companies in the world, with their market capital and total revenue. So, let’s get started with the article!
List of Top Tech Companies in the world
The tech industry comprises many companies, among which are some of the most valuable in the world. And here’s the list of those and the top tech companies worldwide:
Apple iPad, Apple Mac Book, Apple Watch, Apple iPhone Mobile
Website
www.apple.com
Apple Website
With the highest market capitalization of USD 2421 billion, Apple has an enormous presence in the world’s tech market, making it a giant in the industry. Apple specializes in software, electronics, and online services, with an employee account of over 1,608,000.
Apple is an integral part of BIG FIVE, which includes Google, Amazon, Meta, Apple, and Microsoft. These five companies are the most valuable public corporations in the world based on their market capitalization.
This tech giant was founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne. Since then, Apple has been on a progressive growth producing various kinds of tech devices, from computers to wearables.
Moreover, Apple is the largest technology company based on its revenue, USD 387.54 billion in 2022. And ranked the fourth largest personal computer vendor based on its unit sale in 2021. Its popular products are AirPods, iPhone, iPad, and Apple Watch.
2. Microsoft
Company
Microsoft
Founded
1975
Market Cap
$1825 B (2022)
Revenue
$198.27 B (2022)
Top Products
Microsoft Windows, Microsoft Office Suite, Micrsoft Azure, Internet Explorer
Website
www.microsoft.com
Microsoft Website
Being the most prominent tech giant in the world and the largest software company, Microsoft is one of the oldest tech companies mentioned in this list. It was founded in 1976 and released to the public in 1986. It is best known for its Windows operating system, Azure cloud services, LinkedIn social media platform, and Xbox gaming system.
Moreover, Microsoft is ranked first in the list of BIG FIVE tech giants. The company reported a 12.3% revenue growth in 2022, whose main credit goes to Microsoft’s Azure and other cloud services. Also, at the start of 2022, it announced its deal to acquire the video gaming publisher Activision Blizzard Inc. (ATVI).
3. Google Alphabet
Company
Google Alphabet
Founded
1998
Market Cap
$1346 B (2022)
Revenue
$278.13 B (2022)
Top Products
Google Search, Google Maps, Google Assistant, Gmail, Android
Website
www.abc.xyz
Next, with a whopping market capital of 1346 billion dollars, Alphabet Inc. is an American-based multinational company that originated from Google LLC and many other subsidiaries.
Google Inc. is considered a unanimous leader in the search engine sector across the world, whose market share is around 91.9%. Regarding the FIVE GIANTS, Google has always been a genuinely innovative and trustworthy tech giant, founded by Larry Page and Sergey Brin in 1998.
Google Alphabet always has a keen eye for investing in innovative projects such as life extension R&D company Calico, self-driving cars, the smart home project Nest, and many more.
4. META
Company
Meta
Founded
2004
Market Cap
$545.44 B (2022)
Revenue
$117.929B (2021)
Top Products
Facebook, Meta Audience Network, Meta Business Tool
Website
www.about.meta.com
Meta Website
When it comes to top tech companies across the world, META can never be off the table. The company is the parent company of the most powerful social media platforms such as Facebook, Instagram, and Whatsapp.
Mark Zuckerberg founded the company when he was still a student at Harvard University in 2004. META succeeded with an advanced graph, and as of today, the company has reached nearly 3 billion active users monthly.
In competing with Snapchat and Tiktok, META has introduced several innovative features that have made it a leader in online advertising.
The global tech industry is roughly valued at $5.2 trillion. The above graph shows the global tech industry distribution by the market share in percentage.
5. Tesla (TSLA)
Company
Tesla
Founded
2003
Market Cap
$656.57B (2022)
Revenue
$74.863B (2022)
Top Products
Tesla Electric Car, Tesla Model X, Tesla Model 3
Website
www.tesla.com
Tesla Website
Tesla is a true leader in electric vehicle development and production. Even though the prices of vehicles offered by Tesla are too high, and it takes a lot of time to deliver them, consumers prefer them over everything else.
Tesla was founded by Elon Musk who is also the current CEO of the Tesla Company. The unique thing about Tesla is its business model, which does not use the traditional dealership model of selling vehicles.
Initially, the company was limited to online marketing only, but with time, it started developing its technological devices and also offered cloud services to consumers. With such an innovative mindset, Amazon is ranked the 6th largest company by Forbes among the list of top 25 techs and IT companies.
7. Samsung Electronics
Company
Samsung Electronics
Founded
1969
Market Cap
$281.39 B (2022)
Revenue
$250.21 B (2022)
Top Products
Samsung Galaxy Mobile Phones, Samsung Monitors, Samsung Camera
Website
www.samsung.com
Samsung Electronics Website
Samsung Electronics is the largest mobile phone manufacturing company and the biggest competitor to Apple Inc in the production of mobile phones.
The company is based in Seoul, South Korea. Samsung Electronics isn’t limited to producing electronic devices but also ships, turbines, aircraft engines, and life insurance. Its flagship brands are Galaxy S, Z, and note series. They contribute up to 40% of the company’s growth.
Tencent Holdings, a Chinese technology conglomerate company, is the first-ever Asian tech company that reaches the mark of $500 billion.
The company offers web portals, payment systems, e-commerce platforms, mobile games, and social networks. Along with this, it also owns Tencent Music and Tencent Games companies.
The most successful product of Tencent Holdings is WeChat which has over 1.2 billion monthly active users. The company also provides various marketing solutions and cloud services.
9. Alibaba Group
Company
Alibaba Group
Founded
1999
Market Cap
$191.14B (2022)
Revenue
$134.567 B (2022)
Top Products
Alibaba.com, Aliwangwang, Alibaba Cloud, AliGenie
Website
www.alibabagroup.com
Alibaba Group Website
Another massive Chinese multinational technology company is Alibaba Group. It specializes in retail, e-commerce, the internet, and technology. It offers various profitable services such as web portals, electronic payment services, shopping search engines, and cloud computing.
Alibaba Group was founded in 1999 and established in Hangzhou, Zhejiang. Regarding retailers and e-commerce companies, Alibaba Group is one of the largest groups of companies in the industry.
Moreover, the company is ranked fifth among the largest artificial intelligence companies in the world in 2020.
Semiconductors Used in Mobile Devices, Internet of Things, Automotive Electronics
Website
www.tsmc.com
TSMC Website
Being the largest contract chipmaker in the world, Taiwan Semiconductor Manufacturing produces highly advanced and innovative semiconductors designed by Qualcomm Inc. (QCOM) and Advanced Micro Devices Inc. (AMD).
In recent years, Taiwan Semiconductor Manufacturing has reported a 43.5% growth in its revenue and a net worth of $7.9 billion. The company was founded in the year 1987 and ever since then; it has been leading the global semiconductor foundry, where it generates a 517% return for investors.
Another super famous American tech company is Dell Technologies, which specializes in the market of personal computers. It offers a vast range of tech products, such as data storage devices, servers, SmartTV, network switches, computer accessories, cameras, and many more.
This tech company was founded in 1984 by Michael Dell. Since then, Dell Technologies has been known for its innovative chain supply management and direct sales e-commerce model.
12. Oracle Corporation
Company
Oracle Corporation
Founded
1977
Market Cap
$202.40 B (2022)
Revenue
$44.15 B (2022)
Top Products
Oracle Database, Oracle ERP, MySQL, Oracle E-Business Suite
Website
www.oracle.com
Oracle Corporation Website
Oracle Corporation, a computer software company, was founded in 1977 in California, United States by Larry Ellison, Bob Miner, and Ed Oates with its corporate office headquartered in Austin, Texas.
The company has over 400,000 customers across the globe, such as Siemens Healthineers and FedEx. It provides multiple specific solutions for different types of industries.
Its solutions help manage the modernization of restaurants’ finances, connect HR/product management, secure network infrastructure, and, most importantly, enhance client satisfaction.
Foxconn is spread over to more than 20 countries with its subsidiary count reaching up to 200+ in total. It is also considered the world’s largest electronic manufacturer and a leading science and technology solution provider.
Its top products in the market are iPhone, Kindle, iPad, Blackberry, Redmi phones, PlayStation, and Nintendo. Foxconn ranked 22nd in the 2021 Fortune Global 500.
14. Huawei
Company
Huawei
Founded
1987
Market Cap
$71.2 B (2022)
Revenue
$99.9 B (2021)
Top Products
Huawei MateBook, Huawei Watch, Huawei Mobiles
Website
www.huawei.com
Huawei Website
Another China-based tech company is Huawei Technologies, a consumer electronics manufacturer. Its designs create and sell telecommunication tools to the top telecom companies worldwide, including British Telecom, Bell Canada, and Vodafone.
The company was started as a reselling private branch exchange company, founded in 1987 by Ren Zhejiang. Today, Huawei is a telecom behemoth that develops numerous innovative tech gadgets.
Adobe was founded in 1982 as an American-based software company that provides practical solutions for marketing and document management. Its top products in the market are Adobe Photoshop, Adobe Acrobat, and Adobe Creative Cloud.
Adobe was founded by John Warnock and Charles Geschke in 1982 with its headquarters being placed in San Jose, California (United States). Adobe Inc. also expanded its services in digital marketing software and was considered one of the top global leaders in Customer Experience Management (CXM) in 2021.
The top three services provided by Adobe are Creative Cloud, Experienced Cloud, and Document Cloud.
Conclusion
In conclusion, we can say that the tech industry is increasing and covers some of the most valuable companies in the world. However, it’s essential to know that before investing in any company, you need to do thorough research and, after that, focus on buying an ETF.
As the industry contains a vast number of tech companies, there are many options for you to invest and earn a profit. The above list includes the top 15 tech companies in the world with some of the
FAQs
Which are the top 5 IT companies in the world?
The top 5 IT companies in the world are Microsoft Corporation, IBM, Accenture, Oracle, and TCS.
Which is the oldest tech company?
IBM is considered the oldest tech company in the world. Basically, IBM is counted to be 108 years old company.
What are the top 3 online businesses?
The top 3 online businesses are selling digital marketing services, freelancing, and coaching and consulting.
Who is the market leader in technology?
Apple is considered the market leader in technology with a marketing capital of about $2.448 T.
Foxconn, or Hon Hai Precision Industry Co Ltd, is the biggest global electronics manufacturing company. Based in Tucheng, Taiwan, Foxconn is the name that manufactures electronics items for many well-known American, Chinese, Canadian, and Japanese companies. Popular products manufactured by Foxconn included iPad, iPod, Kindle, BlackBerry, Nokia devices, Sony devices, and even Apple’s iPhone. Of late, Foxconn has also ventured into the auto manufacturing industry. Let’s explore more about this electronics manufacturing giant.
Foxconn Technology is a Taiwanese multinational electronics contract manufacturer that specializes in the manufacturing of computer, communications, and consumer electronics goods. In 2010, Foxconn was the world’s largest electronics manufacturing service provider and the third-largest technology company in terms of revenue.
Foxconn manufactures a wide range of products. Metal shells, structural components, thermal modules, gaming console assembly goods, Desktop computers, notebook computers, tablet computers, servers, mobile phones, projectors, e-book readers, digital cameras, and workstation radiators are some products that Foxconn produces for its clients. The company’s goods are mostly distributed in China, the United States, and Japan.
Other countries where the business has built R&D and production facilities include China, India, Japan, Vietnam, Malaysia, the Czech Republic, the United States, and others. The firm has over 83,500 patents and focuses on research and development.
Foxconn is committed to supporting environmental sustainability in the manufacturing process and serving as a best-practices model for global organizations, in addition to optimizing value creation for clients.
Over the years, Foxconn Group has expanded not only its capabilities into the development of electric vehicles, digital health, and robotics, but also three key technologies – AI, semiconductors, and next-generation communications technology – by leveraging its expertise in Cloud Computing, Mobile Devices, IoT, Big Data, AI, Smart Networks, and Robotics/Automation.
Foxconn – Latest News
January 10, 2022 – Foxconn announced to reopen its Sriperumbudur factory in Tamil Nadu on January 12, 2022, as per the statement of Sriperumbudur MLA, K Selvaperunthagai to the assembly.
In August 2021, Stellantis, a global automaker, and Foxconn announced a joint venture to develop a “smart cockpit” for automobiles that would include navigation, voice help, and payment services. The joint venture between Foxconn and Stellantis, called ‘Mobile Drive’ will make the smart cockpits available to other carmakers.
“Its roadmap of software innovations will include artificial intelligence-based applications, navigation, voice assistance, e-commerce store operations, and payment services integration, amongst others,” the companies said in a joint statement.
Hon Hai Precision Industry Co., Ltd. or Foxconn was founded by Terry Gou in 1974 as an electrical component maker.
Terry Gou
Terry Gou is the founder and CEO of Foxconn. Born on 18th October 1950, Terry Gou is a Taiwanese billionaire businessman. After graduation, Gou worked with several factories before founding Hon Hai (Foxconn’s parent company) in 1974 in Taiwan. Hon Hai started as a plastic part manufacturer for television, with just 10 elderly workers.
Foxconn Founder & CEO – Terry Gou
Today, Foxconn is the world’s biggest contract electronics manufacturer, employing 1.2 million people in mainland China, and serving as China’s largest private employer and exporter. It has plants in various countries, the majority of which are located in mainland China.
Foxconn – Startup Story
Terry Gou founded Hon Hai (Foxconn) in Taiwan in 1974 with $7,500 in seed money and 10 older labourers, working out of a leased shed in Tucheng, a Taipei suburb, producing plastic parts for television sets. In 1980, he received an order from Atari to create the console joystick, which marked a turning point in his career.
In the 1980s, he extended his firm even further by going on an 11-month road tour across the United States in pursuit of new clients. Despite having security called on him numerous times, Gou was able to break into many organizations uninvited and obtain further orders as an aggressive salesperson.
He built his first plant in mainland China, in Shenzhen, in 1988, and it is still his largest factory today. When Gou vertically integrated the assembly process and work facilities in China, operations grew dramatically. The factory site was transformed into a campus including accommodation, dining, medical care, burial for the workers, and poultry raising to supply the restaurant.
Hon Hai began producing Compaq desktop chassis in 1996. This was a watershed moment, and it led to the development of bare-bones chassis for other high-profile clients including HP, IBM, and Apple. Foxconn evolved to become a consumer electronics behemoth in just a few years.
Foxconn’s vision statement says, “Creating comprehensive smart living experiences for our customers across the globe.”
Foxconn’s mission statement says, “To ensure all employees to take active roles in meeting company’s global targets, by decomposing them into departmentally distributed realistic targets/ To ensure a reliable organization and discipline where all employees will be glad to be a part in/ To act continuously on increasing the turnover by considering the principle of “Win-Win”/ To ensure the use of all resources effectively and efficiently/ To create a clean, healthy and safe production and work environment which respects to human and considers the next generations.”
Foxconn – Logo
Foxconn Company Logo
Foxconn – Business Model and Revenue Model
Mass Manufacturing
Foxconn serves as a component supplier to several OEMs. It focuses on the mass manufacture of specialized parts for electrical goods in this section. It may reach huge economies of scale by focusing on certain components, making total manufacturing cheaper.
Contract Manufacturer
Foxconn also serves as a contract manufacturer for corporations like Apple. This enables Apple to mass-produce its goods using Foxconn’s massive manufacturing facilities and low-cost facilities. By providing contract manufacturing, Foxconn helps its clients to avoid the high costs of constructing their own production facilities.
Low-Cost Manufacturing Provider
When acting as a contract manufacturer, Foxconn provides clients with fully integrated solutions that encompass the whole production process. In this way, it reduces production costs per unit by leveraging its low-cost manufacturing knowledge and the scale of its manufacturing facilities. It can manufacture items for its clients, such as the Apple iPhone, for less than Apple could produce it directly, thanks to its whole service offering.
Whitelabel Manufacturing
In addition to private label manufacture, which Foxconn conducts for Apple through contract manufacturing, it also provides white-label items. These are usually not branded with Foxconn’s logo, but rather with the distributor’s, and sold to a variety of distributors. Because the underlying technology is identical, this enables these generally low-priced electronic items to be made on a larger scale and hence at a cheaper cost than if they were produced by a single distributor.
Foxconn – Employees
Terry Gou – Founder
Alan Yeung – Director US Strategic Initiatives
Fang Ming Lu – GM Asia-Pacific Region & Board of Directors (Hon Hai
Precision Industry Co. Ltd)
Min Chih Chuo – Corporate Supervisor
Louis Woo – Executive
Daniel Ying-Tso Lai – Senior Deputy Manager
Aymar de Lencquesaing – Vice Chairman
Jack Lee – Founding Partner, Executive Director
Foxconn – Challenges Faced
Foxconn’s labour policies were being scrutinized again and again. According to an investigation by China Labor Watch, a New York-based labour advocacy group, and The Observer, a British newspaper, a Foxconn facility in Hengyang, China, breached labour regulations. Amazon’s Echo smart speakers and Kindle devices are made at this facility.
Foxconn said that it was “carrying out a full investigation of the areas raised by that report.” The company added that it “works hard to comply with all relevant laws and regulations” in the markets where it operates and that “if infractions are identified, we work to immediately rectify them.”
Here’s an overview of some of the problems allegedly plaguing Foxconn’s factories:
Suicides are a common occurrence – In 2010, the firm was rocked by a wave of employee suicides. Since then, there have been further occurrences.
The exploitation of wages and working hours – Foxconn was accused in 2012 of underpaying its workers and forcing them to work long hours. As a result, the firm has promised to shorten shifts and boost salaries.
Serious Accidents – An electric shock in 2011 left one Foxconn employee with neurological damage. In the same year, an explosion in a factory killed four people and wounded another 18.
Workers under the age of 18 and those working illegally – In 2012, Foxconn acknowledged employing minors as young as 14 at one of its facilities. Late this year, Apple acknowledged that student employees were found working overtime at a factory where the iPhone X is produced, in contravention of local rules.
Riots are a common occurrence -. In 2012, a major riot involving over 1,000 workers occurred at one of the company’s plants.
Poor living conditions – In 2012, the New York Times stated that three-room staff flats could house up to 20 workers.
For its part, Foxconn has attempted to solve problems as they arise, making its workplaces safer and raising compensation to boost morale.
Foxconn – Funding and Investors
Date
Round
Amount
Lead Investors
Apr 4, 2017
Series B
$20M
Sprint Vc
Foxconn – Investments
Foxconn Technology Group has invested in 74 companies. GyroGear, which raised £3.1 million on February 25, 2021, was their most recent investment. Below are some major investments made by Foxconn.
Date
Organization Name
Round
Amount
Feb 25, 2021
GyroGear
Seed Round
£3.1M
Jan 19, 2021
Kneron
Venture Round
–
Sep 22, 2020
SigmaSense
Series A
$22M
Aug 6, 2020
Yungongchang
Series B
CN¥100M
Jan 16, 2020
Nanox Imaging
Series B
$26M
Jan 8, 2020
Zap Surgical Systems
Private Equity Round
$81M
Sep 4, 2019
Light
Seed Round
–
Apr 11, 2019
PENSEES
Series A
CN¥150M
Mar 21, 2019
Yungongchang
Series A
–
Jan 29, 2019
StormForge
Series A
$5M
Foxconn – Mergers and Acquisitions
Acquiree Name
About Acquiree
Date
Amount
Sonder Design
Sonder seeks to create beautiful products that delight, surprise & connect with its customers.
Dec 1, 2019
$9.8M
Moran Cognitive Technology
Founded in May 2016, located in 768 Creative Industrial Zone, Haidian, Beijing, China
Aug 22, 2018
$10M
flnet.com
flnet.com is an e-commerce platform for tablet PCs, laptops, one machine, portable TV, LCD TV, etc.
May 25, 2017
CN¥2B
SMART Technologies
SMART Technologies develops interactive whiteboards and group collaboration tools for classrooms and meeting rooms.
May 26, 2016
$200M
TeleEye
TeleEye is a surveillance camera developer company.
Apr 13, 2016
$203.7M
Sharp
Sharp is engaged in the manufacture and sale of electric telecommunication, electric, and electronic equipments.
Mar 30, 2016
$3.8B
SoftBank Group
SoftBank Group is a holding company focused on artificial intelligence and other emerging technologies.
Feb 27, 2016
$600M
Ennoconn Corp
Ennoconn Corp is an Industrial motherboard designer and a total hardware system solution provider to various vertical market applications
Jan 1, 2007
–
Foxconn – Growth
Foxconn forecasted a 10% increase in revenue in 2021, owing to “stronger than projected” sales of smartphones, particularly the new iPhone 12, and telecommuting gadgets, as a result of the coronavirus-induced work-from-home trend. Foxconn’s stock has climbed by about 41% this year(2021).
Foxconn reported NT$5.35 trillion in revenue in 2020, which is around $192 billion in U.S. dollars. Since its inception, the firm has earned several worldwide honours and recognition. In the Fortune Global 500 rankings for 2020, the firm was placed 26th and 25th in the Top 100 Digital Companies in the Forbes list of the World’s Best Employers for 2019.
Jabil, Toshiba, NN LABS, TDK, and Celestica are among Foxconn’s competitors.
Foxconn – Awards and Achievements
Recent awards and achievements of Foxconn:-
2017 – Shortlisted in Forbes World’s Best Employers, Announced Key Strategic Tenets of Cloud Computing, Mobile Terminals, Internet of Things (IoT), Big Data, Artificial Intelligence (AI), High-Speed Networks, and Robots, Foxconn Interconnect Technology listed on the Hong Kong Stock Exchange, U.S. Flying Eagle Program launched.
2018 – Clarivate Top 100 Global Innovators – awarded in 4 consecutive years – only Taiwan’s private enterprise on the list, Foxconn Czech Republic Ranked 2nd in the Czech Republic Top 100 Companies, Foxconn Industrial Internet (Fii) listed on A shares in the Shanghai Stock Exchange.
2019 – Ranked 25th among Forbes Top 100 Digital Companies.
2020 – Ranked 26th among Fortune Global 500 rankings.
Foxconn – Future Plans
Hon Hai Precision Industry Co. has announced intentions to develop its embryonic cars sector to counteract decreasing growth in its main consumer electronics assembly industry. Foxconn however has no plans to sell these vehicles under its own brand but will manufacture them for other car brands.
The firm unveiled its first electric vehicle chassis as well as a software platform geared at assisting EV manufacturers in bringing models to market more quickly. The business also stated that by 2024, it intends to develop a solid-state battery that may replace lithium-ion batteries in electric vehicles.
As told by Foxconn Chairman Young Liu, the business is aiming for a 10% share of the EV market by 2025, with roughly 3 million vehicles utilizing its platform.
Hon Hai said earlier this year that it will form a joint venture in China with Fiat Chrysler Automobiles NV to develop and manufacture electric vehicles. It’s also forming an electric car design cooperation with the Yulon group’s Hua-Chuang Automobile Information Technical Center. Tesla Inc. presently receives certain components from the Taiwanese firm.
By 2025, the company hopes to increase its gross margin to 10% through automotive and other new operations.
Foxconn was founded by Terry Gou. He is the Chairman and Chief Executive Officer of Foxconn.
What does Foxconn do?
Foxconn Technology is a Taiwanese multinational electronics contract manufacturer that specializes in computer, communications, and consumer electronics goods. Metal shells, structural components, thermal modules, and gaming console assembly goods are all available from the company.
Is Foxconn multinational?
Yes, Foxconn is a multinational electronics contract manufacturer.
When was Foxconn founded?
Terry Gou established Hon Hai in Taiwan in 1974.
What is the other name of the company Foxconn?
Foxconn is also known as Hon Hai.
Is Foxconn a Chinese company?
Foxconn is a Taiwanese multinational electronics contract manufacturer headquartered in Tucheng, New Taipei City, Taiwan.
Which companies do Foxconn compete with?
Jabil, Toshiba, NN LABS, TDK, and Celestica are among Foxconn’s competitors.
