Luxshare-ICT to make Apple Watch with $150 mln project in central Vietnam

Luxshare-ICT (Nghe An) Limited, a subsidiary of major Chinese electronics producer Luxshare-ICT, is set to make Apple Watch with its $150-million project in the central province of Nghe An.

The firm received its investment certificate for the project in October 2022 and its latest (second) adjustment certificate in late August.

It plans to build the factory in December 2023-September 2024, install equipment and run trial operation in June 2024-February 2025, and reach full operation in March 2025, according to a project report.

At full capacity, the project can employ 22,000 people. It will cover 36.2 hectares in VSIP Nghe An, an industrial park per the Vietnam-Singapore Industrial Park (VSIP) model.

The project has a designed capacity of 108.8 million items a year. The figure includes 74 million electronic components, 12 million earphone covers, 400,000 household electronic items (vacuum robots), 1.9 million telecommunications items (cameras and wi-fi routers), 6.2 million watches, 230,000 household electronic items (doorbells), 12 million earphones, and 12 million computer items.

Of this, the watches include smart watches under Apple Watch and Huami brands, according to the report.

Registered foreign direct investment (FDI) in Vietnam totaled $24.78 billion in the first nine months of this year, up 11.6% year-on-year, the Ministry of Planning and Investment reported. Nghe An ranked 16th with $482.2 million, down 62.1% year-on-year.