Foxconn secures 111-acre site in Vietnam as Apple assembler continues to diversify production away from China

Foxconn, formally known as Hon Hai Precision Industry, has signed a lease with Saigon-Bac Giang Industrial Park Corp in Vietnam. This latest deal comes after Foxconn’s major iPhone plant in Zhengzhou, China was disrupted by the Chinese Communist party’s quixotic, failed “Zero COVID” lockdowns.
The logo of electronics contract manufacturer Foxconn Technology Group, formally known as Hon Hai Precision Industry, is displayed at its headquarters in Taipei. Photo: Agence Franc