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Hon Hai Precision Industry Co., Ltd. , trading as Foxconn Technology Group and better known as Foxconn , is a Taiwanese multinational electronics contract manufacturer with its headquarters in Tucheng, New Taipei City, Taiwan. In 2010, it was the world's largest provider of electronics manufacturing services and the third-largest technology company by revenue. The company is the largest private employer in Taiwan and one of the largest employers worldwide. Its founder and chairman is Terry Gou. Foxconn manufactures electronic products for major American, Canadian, Chinese, Finnish and Japanese companies. Notable products manufactured by Foxconn include the BlackBerry, iPad, iPhone, iPod, Kindle, Nintendo 3DS, Nokia devices, Xiaomi devices, PlayStation 3, PlayStation 4, Wii U, Xbox 360, Xbox One, and several CPU sockets, including the TR4 CPU socket on some motherboards. As of 2012, Foxconn factories manufactured an estimated 40% of all consumer electronics sold worldwide. Foxconn has been involved in several controversies. In 2010, following a series of employee suicides at its factory in Shenzhen, Foxconn was criticized by labour activists, who accused the company of providing low wages and allowing employees to work past legal overtime limits. Hon Hai Precision Industry Co. named Young Liu its new chairman to replace founder Terry Gou, effective on July 1, 2019. Young Liu was the semiconductor division chief as well as the vice chairman of Foxconn. Analysts said the handover signals the company's future direction, underscoring the importance of semiconductors, together with technologies like artificial intelligence, robotics and autonomous driving, after Foxconn-s traditional major business of smartphone assembly has matured. One of the key directions of Foxconn is to focus its strength on semiconductors. It has invested hundreds of millions of yuan in Zhuhai, Guangdong province and Jinan in Shandong province to build chip factories since 2018, which Liu mainly promoted. He also served as chairman of the company's chip unit in Zhuhai, Guangdong province.