Written by Khanh Vu, Reuters
Hanoi (Reuters) - Taiwan-based electronics maker Foxconn turned out the first batch of display screens this week at its $26-million factory in Vietnam, the government of the Southeast Asian nation said on Wednesday.
The 100,000-sq.m plant at the Dong Mai Industrial Park near Ha Long Town, whose construction started in September last year by the company, formally known as Hon Hai Precision Industry Co., is expected to produce 20,000 screens this year for exports.
The majority of the 20,000 screens that will be produced by Foxconn in its Quang Ninh this year are destined for export. In 2021, it will produce a million screens and television sets worth $250 million for exports, and this will rise to $1 billion in future.
Foxconn is a major assembler of Apple products, including the iPhone, and is the world's largest contract manufacturer. The company entered Vietnam in 2007, with its operations centered in the northern provinces of Bac Ninh, Bac Giang and Vinh Phuc.
The company’s factories in Vietnam are manufacturing computers and other electronic products and car parts. Foxconn, with multiple factories in mainland China has said that Vietnam is its largest manufacturing hub in Southeast Asia.
According to a statement from company executives, the company’s exports in 2019 were valued at $3 billion USD and this year it expects its exports from Vietnam to double to $6 billion USD.
Khanh Vu wrote this article, with editing by Kim Coghill, Clarence Fernandez and Uttaresh.V. For worldwide news, visit Reuters at: https://www.reuters.com