Chinese display maker and Apple supplier BOE Technology Group plans to invest a substantial sum to build two factories in Vietnam, Reuters reports Wednesday citing “two people familiar with the matter.”
<a href=”https://www.reuters.com/article/idUSL8N33V0WN>Francesco Guarascio for Reuters:
The investment may total up to $400 million.
The plan underscores efforts by technology firms led by U.S. iPhone maker Apple and Taiwanese device assembler Foxconn to lower supply chain exposure to China amid trade and geopolitical tension between Beijing and Washington and production disruption caused by China’s COVID-19 containment measures.
BOE is in talks to rent dozens of hectares of land in north Vietnam to add to its relatively small plant in the south that supplies mostly television screens to South Korea’s Samsung and LG Electronics Inc, the people said, declining to be identified as negotiations were confidential.
Hon Hai Precision Industry Co Ltd (Foxconn) and China’s Luxshare Precision Industry also make or plan to assemble a number of Apple products in the area such as laptop and tablet computers.
MacDailyNews Take: The transfer of eggs out of a single basket in China continues belatedly.
In October 2021, Apple added BOE to its roster of suppliers for 6.1-inch iPhone 13 OLEDs.
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