Foxconn chairman Terry Gou is considering a run for the Taiwan presidency, a move that would shake up the country’s political landscape and could trigger big changes at the world’s largest contract electronics manufacturer.

Mr Gou said on Tuesday that he would decide over the next few days whether to contest the primaries of the opposition Kuomintang party. “I didn’t sleep all night,” he said on the sidelines of a conference in Taipei. “I have four grandchildren and three children in Taiwan. What is their future? I think about what I can do for the young people.”

Foxconn, which assembles the majority of iPhones for Apple, said in a statement that Mr Gou wanted to start handing management to a new generation. “His wish is to withdraw from daily operations after having developed and mentored a new generation of talent to carry on Foxconn’s mission,” the company said. “As chairman, Mr Gou will continue to provide strategic direction and guidance.”