Foxconn (partially) bailing out of China, heading for Vietnam
Although the new president of the US might smooth things out with China, it looks like the recent trade war between the two nations is still having an impact on some companies. Today, it's all about Foxconn and the removal of some production facilities the company is currently running in China to manufacture Apple products.
A recent exclusive report by Reuters reveals that some of Foxconn's lines that are currently involved in manufacturing various iPads and MacBooks will move from China to Vietnam. Foxconn is Apple's main production partner and is currently making up to 70% of all iPhones that hit the market, as well as many of the remaining hardware products designed by the Cupertino-based tech giant.
In addition to Foxconn, Apple is also working with manufacturing partners such as Luxshare Precision Industry and Wistron. On the other hand, they are also taking the steps needed to manufacture in various countries to evade certain tariffs and import restrictions that came into effect recently.
Right now, Foxconn makes iPhone 11 handsets near Chennai, India. Wistron is also making various iPhones in India, and the new Foxconn lines for iPads and MacBooks should begin to operate in Vietnam in the first half of 2021.