TAIPEI -- Hon Hai (Foxconn) chairman Terry Gou lowered the electronics manufacturing company's long-term growth target by half to reflect a saturated computer market.

According to several published reports, Gou re-set the target at 15%. It was the first change in at least a decade, Bloomberg reported.

Gou, who founded the company in 1974, reportedly said a firm the size of Foxconn cannot maintain the 30% per year target. Foxconn has annual sales of about $60 billion and is the market leader in contract electronics assembly, is Top 10 in printed circuit board fabrication, and is in the Top 20 in connectors. It also plans to roll out thousands of retail stories in China in the next decade.

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