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Foxconn isn’t letting a good downturn go to waste
Now’s the time to push for global expansion and reduce reliance on China as a manufacturing hub.
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Recent announcements show Foxconn is committed to expansion despite the downturn and myriad challenges in setting up overseas.
PHOTO: REUTERS
Tim Culpan
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Foxconn Technology Group has finally joined titans Taiwan Semiconductor Manufacturing and Apple in predicting a worsening outlook for the year as a rebound in demand for gadgets fails to materialise. Rather than hunker down though, the maker of smartphones, computers and AI servers is spending more to accelerate its global migration.
At its peak, Foxconn employed one million workers in a single Chinese city to assemble iPhones. Both the Taiwanese electronics giant and its chief client hung on to that operations model because it was efficient and effective. Those days are over. Recent announcements show Foxconn is committed to expansion despite the downturn and myriad challenges in setting up overseas.
