Foxconn: China Is No Longer The World's Manufacturing Center

 

Young Liu, president of Foxconn, Apple's largest supplier in China, announced that China is no longer a global manufacturing center.

When the coronavirus epidemic was added to the trade wars between the USA and China for months, giant companies started to give up China one by one.

For example, Apple recently shifted some of its iPhone production to India. Also, Samsung has decided to close its last computer factory in China.

China, the global center of technology production for a long time, is bleeding as giant companies leave the country.

Foxconn, the world's largest contracted supplier of smartphones, tablets, consoles and computers; It also provides services to companies such as Microsoft, Sony, Dell and Nintendo, especially Apple.

Foxconn president Young Liu explained that China is no longer the world's manufacturing center and its role in production is rapidly declining.

Liu stated that China will still play an important role in manufacturing operations, but will not be as critical as before.

Foxconn, a key supplier to Apple and many tech giants, plans to split the supply chain between the US and China.

The company's president said the factory in China has gradually moved out of the country.

Young Liu said that the rate of production capacity outside of China will increase further by shifting capacity to South East Asia and other regions to avoid extra taxes that may be imposed on goods produced in China.