Apple supplier Foxconn to expand production in Vietnam: exec

Foxconn, one of the world's largest contract electronics makers, will focus on expanding production in China, India, Mexico, and Vietnam, said James Wu, spokesperson for Foxconn, also known as Hon Hai Technology Group.

The executive made the statement at Foxconn’s Q1 performance review in New York on Tuesday, while answering queries about Foxconn’s strategy for supply chain management and global production facilities.

“In Vietnam, we will focus on computing products,” Wu noted.

In China, Foxconn will focus on automation and new business segments, while in India, the focus is on smart consumer products. In the Americas, Foxconn will focus on electric vehicles (EVs), EV components, and artificial intelligence (AI) components for cloud networking products.

“We also mentioned our 205 sites globally, which can help provide geographically segmented production advantages to our customers,” Wu emphasized.

In the first quarter of this year, Foxconn reported a post-tax profit, attributable to the owner of the parent, at TWD22,009 million ($685.6 million), up 72% year-on-year, but down 59% quarter-on-quarter.

Foxconn has been investing in Vietnam since 2007 and has so far invested $3.2 billion in the country. Its latest investment was made in June 2023 after the northern coastal province of Quang Ninh granted investment certificates for two projects with total registered capital of $246 million.