Taipei, Friday, Aug 23, 2019, 18:53

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In Response to US China Trade War, Foxconn Strengthens Vietnamese Factory Operations

Published: Aug 12,2019

TAIPEI, Taiwan - In response to the United States China trade war, Foxconn Technology Group will in the near future actively strengthen their factory operations in Vietnam. In the near term, for their investment in both Sharp and the Foxconn subsidiary company Foxconn Industrial Internet (FII), Foxconn is expanding their production line plan in Vietnam; meanwhile, for Sharp’s US electronic product lines, they are planning on local production with direct sales.

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Beginning in September, the United States is scheduled to increase tariffs by 10% on Chinese-made products exported to the United States, including all types of electronics. Sharp is planning to continue to expand their production scale in Vietnam, and in addition to the production of major home appliances, a portion of PC manufacturing capacity in Mainland China and automotive displays will also be moved to Vietnam.

Sharp in a press release emphasized that in 2020 they expect to formally establish what will be the core of their East Asian business promotion for continual development in the region with its rapid economic growth in order to increase Sharp’s corporate value.

In addition to Vietnam, during the first half of this year Sharp is also responding to changes in the market by transferring a portion of their commercial production lines to Thailand in order to reduce the percentage of impact on turnover resulting from changes in the international situation to the single digits.

(TR/ Phil Sweeney)

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