Apple supplier Foxconn expanding its iPhone manufacturing footprint in China
Apple supplier Foxconn Technology Group is reportedly expanding its presence in Zhengzhou, the central Chinese city that is home to the world’s largest iPhone plant. Foxconn has leased a 293-acre plot in the Zhengzhou Comprehensive Bonded Zone for around 197 million yuan (US$28 million). According to AppleInsider, Foxconn chairman and CEO Liu Young-way visited Zhengzhou and met province officials. The chairman was assured by the group that the government would provide comprehensive “services” to the company.
Foxconn’s biggest iPhone manufacturing facility in China, hit hard by Covid-related disruptions, gradually recovered and production reached about 90 per cent of maximum capacity in early January. Foxconn Technology Group’s facility in the central Chinese city of Zhengzhou saw major disruptions in the last three months of 2022 caused by the pandemic controls. In a New Year’s message, Foxconn Chairman and CEO Young Liu had said the Taipei-based company may see a more difficult and challenging path ahead.
Foxconn recently secured a new site in Vietnam, as the Taiwanese giant shifts production away from China after facing major supply-chain disruptions late last year after the lifting of zero-Covid policy. Foxconn (earlier known as Hon Hai Precision Industry) has signed a lease with Saigon-Bac Giang Industrial Park Corp to occupy a plot of 45 hectares for around $62.5 million to meet operational needs and expand production capacity.
In an exchange filing, the Taiwanese giant said the lease will run through February 2057. “Foxconn signed a $300 million agreement with a Vietnamese developer last August to build a new factory in Bac Giang, where it already produces iPads and AirPods,” according to the report.
Apple CEO Tim Cook, in the company’s quarterly earnings call earlier this month, said that the Covid-19 challenges “significantly impacted the supply of iPhone 14 Pro and iPhone 14 Pro Max and lasted through most of December”.
Meanwhile, Indian conglomerate Vedanta and electronics manufacturing giant Foxconn has finalised the Dholera Special Investment Region near Ahmedabad to set up their semiconductor and display manufacturing unit. This will be the first manufacturing facility for semiconductors in the country. Vedanta and Foxconn signed a Memorandum of Understanding with the Gujarat government earlier to set up a semiconductor and display manufacturing unit in the state.
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Apple supplier Foxconn Technology Group is reportedly expanding its presence in Zhengzhou, the central Chinese city that is home to the world’s largest iPhone plant. Foxconn has leased a 293-acre plot in the Zhengzhou Comprehensive Bonded Zone for around 197 million yuan (US$28 million). According to AppleInsider, Foxconn chairman and CEO Liu Young-way visited Zhengzhou and met province officials. The chairman was assured by the group that the government would provide comprehensive “services” to the company.
Foxconn’s biggest iPhone manufacturing facility in China, hit hard by Covid-related disruptions, gradually recovered and production reached about 90 per cent of maximum capacity in early January. Foxconn Technology Group’s facility in the central Chinese city of Zhengzhou saw major disruptions in the last three months of 2022 caused by the pandemic controls. In a New Year’s message, Foxconn Chairman and CEO Young Liu had said the Taipei-based company may see a more difficult and challenging path ahead.
Foxconn recently secured a new site in Vietnam, as the Taiwanese giant shifts production away from China after facing major supply-chain disruptions late last year after the lifting of zero-Covid policy. Foxconn (earlier known as Hon Hai Precision Industry) has signed a lease with Saigon-Bac Giang Industrial Park Corp to occupy a plot of 45 hectares for around $62.5 million to meet operational needs and expand production capacity.
In an exchange filing, the Taiwanese giant said the lease will run through February 2057. “Foxconn signed a $300 million agreement with a Vietnamese developer last August to build a new factory in Bac Giang, where it already produces iPads and AirPods,” according to the report.
Apple CEO Tim Cook, in the company’s quarterly earnings call earlier this month, said that the Covid-19 challenges “significantly impacted the supply of iPhone 14 Pro and iPhone 14 Pro Max and lasted through most of December”.
Meanwhile, Indian conglomerate Vedanta and electronics manufacturing giant Foxconn has finalised the Dholera Special Investment Region near Ahmedabad to set up their semiconductor and display manufacturing unit. This will be the first manufacturing facility for semiconductors in the country. Vedanta and Foxconn signed a Memorandum of Understanding with the Gujarat government earlier to set up a semiconductor and display manufacturing unit in the state.
The post Apple supplier Foxconn expanding its iPhone manufacturing footprint in China appeared first on Techlusive.
