The grand event hosted ten of Foxconn's major clients and partners including Apple, HP, Dell, Cisco, NVIDIA, Intel, AMD, and ARM, with executives from these companies in attendance. Notably, Apple's COO Jeff Williams showed up in person, while CEO Tim Cook sent his wishes through a pre-recorded video.

In his message, Tim Cook reminisced about the collaboration between Foxconn's founder, Terry Gou, and Apple, highlighting their shared journey from producing iMac components to pushing the boundaries of innovation in manufacturing. Cook expressed gratitude for Foxconn's role in improving millions of lives globally and expressed optimism about the future of their partnership.

Significance of Apple's Presence

Apple's presence at the celebration is particularly significant as Foxconn's assembly of iPhones remains a cornerstone of its revenue. With increasing competition in iPhone assembly, particularly from Chinese and Indian manufacturers, Apple's high-level representation at the anniversary event provides reassurance to Foxconn amidst growing challenges.

Challenges and Opportunities

Despite Foxconn's dominance in iPhone assembly, challenges loom large. Competitors like Luxshare and Tata Group are aggressively expanding their foothold in the market. 

Luxshare, in particular, has made significant strides, acquiring production lines from other manufacturers and securing a substantial share of iPhone assembly orders. 

Additionally, Tata Group's acquisition of Taiwanese company Wistron's factory and its collaboration with Pegatron pose further threats to Foxconn's dominance.

Diversification Strategies

HonHai integrates EV manufacturing into its new business, Luxgen n7 is the first model work. (Photo: Chien-Ying Chiu)

In response to these challenges, Foxconn has been strategically diversifying its business portfolio. One major area of focus is electric vehicles (EVs).

Through partnerships and investments, Foxconn aims to establish itself as a key player in the EV market. Its joint venture with Taiwanese automaker Yulon Group, Foxtron, has already produced the first batch of vehicles and is expected to ramp up production in the coming months.

AI Server Development

Another area of growth for Foxconn is AI server development. Collaborating with NVIDIA, Foxconn has been instrumental in advancing AI technologies. Jensen Huang, in his congratulatory message, acknowledged Foxconn's role in revolutionizing the AI industry. Foxconn's AI server revenue has surpassed NT$200 billion, with a market share of 40%, making it a significant growth driver for the company.

Foxconn’s future

As Foxconn commemorates its 50th anniversary, the event not only signifies its rich history but also highlights its ambitious plans for the future. Despite facing challenges in its traditional businesses, Foxconn's foray into new sectors such as electric vehicles and AI servers reflects its determination to stay ahead in an ever-evolving market landscape. 

With continued innovation and strategic partnerships, Foxconn is poised to navigate through challenges and seize new opportunities in the years to come.

Have you read?

• JASM grand opening: Can it restore semiconductor glory in Japan?
• Foxconn's US$1.6 billion bid to build iPhones in India
• Why is Foxconn building "AI factories" with Nvidia?

Uploaded by Ian Huang