As he squeezes costs throughout his empire, Gou also takes huge risks on behalf of his major clients. In Chongqing, in central China, Foxconn is spending $1 billion on a factory that will produce 30 million machines a year just for Hewlett-Packard. When Apple's iPhone4 was nearing production, Foxconn and Apple discovered that the metal frame was so specialized that it could be made only by an expensive, low-volume machine usually reserved for prototypes. Apple's designers wouldn't budge on their specs, so Gou ordered more than 1,000 of the $20,000 machines from Tokyo-based Fanuc. Most companies have just one. "Terry is a strong leader with a passion for excellence," says Tim Cook, Apple's chief operating officer. "He's a trusted partner and we are fortunate to work with him." The Longhua plant now produces 137,000 iPhones a day, or about 90 a minute.
If you are interested in the industry, this is a recommended read.