Hello from Tokyo. Last Saturday, Nikkei Asia published an exclusive interview with Young Liu, chairman and CEO of Foxconn, the world's largest contract assembler of electronics. Liu took over leadership from the legendary founder, Terry Gou, six years ago and has since achieved remarkable results. Under Liu's direction, Foxconn's stock price has tripled, and the company is firmly riding the wave of the AI revolution.
A turning point that transformed Foxconn into an indispensable assembler in the tech industry was the deal it made with Apple when the Silicon Valley-based tech company developed its smartphone. Apple asked Foxconn, then led by Gou, to assemble the iPhone created by co-founder Steve Jobs. Gou responded by building massive factory complexes in China, supporting the iPhone's rapid growth and solidifying its position as a leading contract assembler.
Eighteen years after the launch of the iPhone, Apple and Foxconn's positions have changed dramatically. Tim Cook, who succeeded Jobs as Apple's CEO, has struggled to develop innovative products following the iPhone and the company has fallen behind rival tech giants in commercializing generative AI. Meanwhile, Liu has successfully executed a "systematic" pivot from iPhone assembly to AI server manufacturing.
A similar transition is evident at Taiwan Semiconductor Manufacturing Co., which has significantly increased production of AI chips alongside smartphone chips. The Taiwanese tech giant, which rose to prominence thanks to the iPhone, is now establishing itself as a key player in AI tech manufacturing. Here at Nikkei Asia, one of the strengths of our newsroom is our coverage of these companies, so be sure to follow us for the latest developments.
My suggested reads
1. The Nasdaq stock exchange expects more Japanese and South Korean startups to list next year. The growth in foreign listings from the two countries is due in part to tighter listing rules on Asian bourses and comes as the Nasdaq strives to improve the quality of its listings with proposed rules that would make it harder for Chinese companies to go public in the U.S. The piece is based on our New York correspondent's talks with market experts, lawyers, as well as Nasdaq Vice Chairman Bob McCooey.
2. Fashion, an industry renowned for its unhealthy relationship with food, is now embracing it. Prada is one of more than half a dozen luxury brands, from Ralph Lauren to watchmaker Audemars Piguet, that have opened cafes in Singapore. This week's ASEAN Money explores how this is part of a larger global foray by the sector into dining as it seeks to increase footfall in stores.
3. At its facility along the Tennessee River, Novonix is erecting massive furnaces to turn oil industry byproduct into graphite, a key ingredient in electric vehicle batteries. The company is just one example of American-based efforts that aim to shake China's grip on critical minerals as tensions between Washington and Beijing rumble on, writes Pak Yiu for our Tech Asia series.
Wishing you a wonderful weekend!
Akito Tanaka
Please contribute to our New Year's survey: We want to know your thoughts on what's ahead for Asia in 2026 for an upcoming "Big in Asia" feature. The survey will be open until Dec. 8.
Sign up for the weekly Editor-in-chief's picks newsletter here
