Foxconn plans for inevitable US-China market split

© Michael Vi

Apple supplier Foxconn has told investors that nearly one-third of its production capacity is now outside China, a figure that will keep growing, according to Nikkei Asian Review.

Chairman Young Liu said a global trend of two market groups is inevitable, and the company needed to serve both. Foxconn, the world’s largest supplier, has increased capacity in the US, Mexico and Brazil, as well as South-east Asia, including Vietnam, and India. The move to source from countries other than China has picked up pace in recent years, with Covid expected to accelerate the process.