Beijing time on September 6 news, according to foreign media reports, Foxconn Group Chairman Terry Gou said in an interview Friday, because Apple's iPhone and iPad's demand can not offset the impact of computer sales slowdown, Hon Hai Group's long-term growth will be reduced by half . At the same time, he revealed that Hon Hai’s succession plan will be announced within the next three years.
In an interview, Gou said that Foxconn’s annual sales growth target was reduced from the original 30% to 15%. He said: “How many companies can still achieve 30% growth after reaching such a large scale? 15% is already very high. Big."
At present, Foxconn's business scale reaches 60 billion, and its annual revenue exceeds that of Apple and Dell. The company employs nearly 1 million people. However, the downgrade of this long-term growth target is just like the series of suicide incidents that the company had previously had, highlighting the company’s management challenges.
Vincent Chen, an analyst at Taipei Yuanda Securities, said: “I think investors will be surprised to see such a large adjustment of growth targets. These issues, including slowing market growth, will bring great challenges to Terry Gou.†Vincent Chen Foxconn's parent company Hon Hai Precision Co., Ltd. was rated as "held."
As a series of suicide incidents happened before Foxconn, the company has accelerated the relocation plan. Hon Hai’s stock price has fallen by 18% in Taipei’s stock exchange market this year, which is weaker than the Taiwanese weighted index. However, Hon Hai’s share price has doubled in the past, making the company’s market value surpass that of electronics companies such as Sony and Panasonic.
In Foxconn's main business computer accessories, Taipei Qunyi Securities analysis pointed out that the growth of global computer sales will slow from 18% this year to 12% in 2011.
Gou had previously stated that as customers recover from the global economic crisis, they hope that sales can achieve the goal of 30%. According to a Bloomberg survey, analysts believe that Hon Hai Precision's revenue this year will increase by 39% to NT$2.71 trillion (US$85 billion). This performance will also exceed Foxconn's customers. Analysts forecast Apple’s revenue of US$63 billion, Dell’s revenue of US$62 billion, and Nokia’s revenue of US$54 billion.
The expansion plan Gou Ming-ming said that although he will slow down the acquisition of Foxconn, he is considering mergers and acquisitions of biotechnology companies. However, he declined to disclose the company's name. He said that Foxconn is planning to expand into industries such as nanotechnology and media content. However, he said that Foxconn plans to promote development mainly through internal expansion due to the high bids for several mergers and acquisitions conducted earlier.
He said: "If I merge or acquire other companies, I will be more conservative when assessing my needs and the real returns. I used to bid too high when I acquired a company, and later discovered that my internal technology More than the other's internal technology."
Hon Hai spent $3.1 billion in mergers and acquisitions in the past decade, the largest of which was acquisition of Taiwan's digital camera maker Premier Image Technology Corp. for $1.2 billion in 2006. Innolux's Innolux Group acquired Chi Mei Optoelectronics and Tongbao Optoelectronics this year to form the world's third largest LCD manufacturer.
Daiwa analyst Calvin Huang pointed out: "If you don't go through mergers and acquisitions, Hon Hai will have a hard time gaining development. Hon Hai has new businesses, but their contribution is still very small and it is difficult to promote too much development."
Gou also stated that he is considering building a fully automated factory in the United States, which is part of expanding US production capacity and reducing Foxconn’s dependence on labor. The company currently assembles computer servers in Houston and will produce components and finished products at US plants within the next five years. He said: "If I can fully automate production in the United States and then deliver the finished product to China, my cost price will still be competitive."
In an interview, Gou said that Foxconn’s annual sales growth target was reduced from the original 30% to 15%. He said: “How many companies can still achieve 30% growth after reaching such a large scale? 15% is already very high. Big."
At present, Foxconn's business scale reaches 60 billion, and its annual revenue exceeds that of Apple and Dell. The company employs nearly 1 million people. However, the downgrade of this long-term growth target is just like the series of suicide incidents that the company had previously had, highlighting the company’s management challenges.
Vincent Chen, an analyst at Taipei Yuanda Securities, said: “I think investors will be surprised to see such a large adjustment of growth targets. These issues, including slowing market growth, will bring great challenges to Terry Gou.†Vincent Chen Foxconn's parent company Hon Hai Precision Co., Ltd. was rated as "held."
As a series of suicide incidents happened before Foxconn, the company has accelerated the relocation plan. Hon Hai’s stock price has fallen by 18% in Taipei’s stock exchange market this year, which is weaker than the Taiwanese weighted index. However, Hon Hai’s share price has doubled in the past, making the company’s market value surpass that of electronics companies such as Sony and Panasonic.
In Foxconn's main business computer accessories, Taipei Qunyi Securities analysis pointed out that the growth of global computer sales will slow from 18% this year to 12% in 2011.
Gou had previously stated that as customers recover from the global economic crisis, they hope that sales can achieve the goal of 30%. According to a Bloomberg survey, analysts believe that Hon Hai Precision's revenue this year will increase by 39% to NT$2.71 trillion (US$85 billion). This performance will also exceed Foxconn's customers. Analysts forecast Apple’s revenue of US$63 billion, Dell’s revenue of US$62 billion, and Nokia’s revenue of US$54 billion.
The expansion plan Gou Ming-ming said that although he will slow down the acquisition of Foxconn, he is considering mergers and acquisitions of biotechnology companies. However, he declined to disclose the company's name. He said that Foxconn is planning to expand into industries such as nanotechnology and media content. However, he said that Foxconn plans to promote development mainly through internal expansion due to the high bids for several mergers and acquisitions conducted earlier.
He said: "If I merge or acquire other companies, I will be more conservative when assessing my needs and the real returns. I used to bid too high when I acquired a company, and later discovered that my internal technology More than the other's internal technology."
Hon Hai spent $3.1 billion in mergers and acquisitions in the past decade, the largest of which was acquisition of Taiwan's digital camera maker Premier Image Technology Corp. for $1.2 billion in 2006. Innolux's Innolux Group acquired Chi Mei Optoelectronics and Tongbao Optoelectronics this year to form the world's third largest LCD manufacturer.
Daiwa analyst Calvin Huang pointed out: "If you don't go through mergers and acquisitions, Hon Hai will have a hard time gaining development. Hon Hai has new businesses, but their contribution is still very small and it is difficult to promote too much development."
Gou also stated that he is considering building a fully automated factory in the United States, which is part of expanding US production capacity and reducing Foxconn’s dependence on labor. The company currently assembles computer servers in Houston and will produce components and finished products at US plants within the next five years. He said: "If I can fully automate production in the United States and then deliver the finished product to China, my cost price will still be competitive."
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