Handset contract manufacturer Foxconn International Holdings Ltd will invest at least US$500 million in the next years on a new factory in Huizhou, Guangdong Province,to expand production, according to a Taipei Times report.
Foxconn plans to double production capacity in the Chinese mainland by the end of next year to meet rising orders from customers including Nokia Oyj and Sony Ericsson Communications Ltd. Company spokesman Vincent Tong disclosed that Foxconn's Shenzhen's operations may reduce its size as the Huizhou site may eventually become larger.
Foxconn has also signed a memorandum of understanding with the people's committee of the northern port of Haiphong, Vietnam to set up an industrial, urban and entertainment complex worth US$1 billion, the report said citing a state-run Vietnam news agency.
The company has opened a plant for camera modules, main boards and connectors in northern Bac Ninh Province and also plans to establish industrial-urban complexes in neighboring Bac Giang Province, north of the capital Hanoi.