Foxconn to invest $210M in new Apple production line - reportApple's manufacturing partner Foxconn reportedly plans to invest $210 million in a new production line in China's east Jiangsu province.
The announcement was made on Monday by local authorities, and the investment will be made by Foxconn in October, according to China Daily. The 40,000-square-meter plant will be located in Huai,an city, and will employ 35,800 people.
Annual output of the new plant is reportedly expected to be between 6 billion and 7 billion yuan, which would be between $949 million and $1.1 billion U.S. Import and export value would be $55.8 million.
Monday's report didn't indicate exactly what Apple products would be assembled at the new plant. Foxconn is one of Apple's largest overseas suppliers, and is responsible for assembly of nearly all of its products, including iPhones, iPads, iPods and Macs.
As sales of Apple products continue to grow, Foxconn has also expanded its facilities to accommodate greater production lines and output more products. Late last year, the company announced plans to double the size of its iPhone plant in Zhengzhou at a cost of $1.1 billion, making it the largest smartphone producing facility in the world.
Foxconn also has a new plant in Brazil where the company produces iPads and iPhones that are sold in that country. Production of devices there is currently limited.
On Topic: General
- Best Buy slashes $100 off all iPad Air 2 models in early Black Friday sale
- Natalie Portman rumored for troubled Steve Jobs biopic
- Judge rules Apple entitled to potential ongoing royalties from patent-infringing Samsung products
- Union pushes Apple for better treatment of campus security guards
- More secrets could come from GT Advanced bankruptcy as Apple divulges details to creditors