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January 27, 2014

Foxconn lines up US factories in ambitious growth plan

An expansion would lead to new prospects with Apple.

By CBR Staff Writer

Taiwan-based electronics manufacturing firm Foxconn Technology Group is reportedly planning to expand its manufacturing base in the US as well as Indonesia.

The company, which is major component supplier for Apple’s iPhone and iPad products, expects the expansion to lead to new ways of business with Apple.

Foxconn is considering to move its capital-intensive and high-tech manufacturing plants to the US as part of its expansion plan.

Foxconn Technology Group chairman Terry Gou was quoted by Reuter as saying that Indonesia will be a top investment priority for company this year and added that, "The U.S. is a must-go market."

The company is also planning to sign a deal with BlackBerry to design and market its phones in the Canada as the company struggles to reinvigorate its smartphone business.

In 2013, Foxconn has reported growth in its annual revenue to TWD4 trillion ($131.87bn) and the growth plan is expected to increase its revenue to TWD10 trillion ($330bn) over the next decade.

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