Foxconn Pumps Additional $58M into Vietnam Subsidiary to Strengthen Long-Term Manufacturing Presence

Foxconn, the world's largest electronics manufacturer, is injecting an additional $58.3 million into its Vietnam subsidiary as part of a strategic long-term commitment.

The investment, executed through Foxconn's unit Chief Expertise Limited, elevates the total capital in Fushan Technology (Vietnam) to approximately $226 million, maintaining full ownership.

Foxconn's Extensive History in Vietnam

Foxconn first entered Vietnam in 2007, amassing $4 billion in investments primarily in the northern province of Bac Ninh, which now supports 130,000 jobs.

Fushan Technology (Vietnam), located in Bac Ninh, specializes in producing mobile phones, speakers, printed circuit boards, optical components, smartwatches, Xbox gaming consoles, and unmanned aerial vehicles.

Evolution from Nokia to Foxconn Powerhouse

Originally established in November 2011 as Nokia Vietnam, the subsidiary transitioned to Microsoft Mobile Vietnam in December 2014 after Microsoft's acquisition of Nokia's phone business.

In 2017, following Microsoft's sale of its phone division, Foxconn acquired and rebranded it as Fushan Technology (Vietnam).

Strategic Impacts and Future Outlook

This latest infusion underscores Foxconn's strategy to bolster its manufacturing footprint amid global supply chain diversification.

The move is expected to enhance production capabilities, create more employment opportunities, and position Vietnam as a vital hub for electronics innovation.

Foxconn recently inaugurated a new office in Hanoi to streamline management and foster closer ties with local authorities.

Foxconn Vietnam CEO Chou I Wen emphasized that Vietnam serves not only as a key production base but also as a regional innovation center.

Overall, this investment signals sustained confidence in Vietnam's growing role in the global tech manufacturing landscape.