Johnson Lai

Associated Press

Terry Gou, chairman of Foxconn, the world’s largest contract assembler of consumer electronics, speaks to the media after the company's annual shareholders meeting in New Taipei City, Taiwan, Friday, June 21, 2019. Gou said he is stepping down amid speculation he could be planning a presidential run next year.

Foxconn's Gou to Step Down

His resignation, effective July 1, is the latest challenge for Foxconn, which has been caught up in the U.S.-China trade war.

In this Sunday, Feb. 24, 2013, file photo, Foxconn Technology Group Chairman Terry Gou waves as he arrives at a hotel in Beijing. Gou says there is ‘still a chance’ the Taiwanese electronics giant might be able to buy Toshiba’s chip business despite the Japanese company’s choice of another bidder as its preferred buyer.

Foxconn to Announce U.S. Investment Plans in Aug

Expansion into the United States would reduce the Taiwanese company's reliance on China, where it has the bulk of its operations and employs about 1 million people.

Foxconn, or also known as Hon Hai Precision Industry, spokesman Simon Hsing, right, announces the approval of the purchase of a controlling stake in Japan's Sharp Corp. during a press conference at the Taiwan Stock Exchange Corp. in Taipei, Taiwan, Wednesday, March 30, 2016.

Foxconn to Purchase Sharp for $3.5B

The acquisition by Foxconn unites Sharp, a pioneering electronics brand founded in 1912, with a company six decades younger that is little known to consumers but has grown rapidly as a contract manufacturer for global brands.