China’s largest iPhone assembly plant will switch from smartphone production to electric cars as trade relations between the US and China worsen. Foxconn is making a big bet on developing the new business and reorganizing its supply chain, the BBC reported.Foxconn CEO Young Liu stated that the thing that will ensure the growth of the company in the next ten years is the production of electric cars. Liu also pointed out that he hopes the leaders of both countries will pursue peace and stability, but as the head of the company, he should consider possible actions in case of negative developments.
Foxconn manufactures 60% of iPhones
One of the main steps Foxconn will take in the near future will be to move key manufacturing facilities from China to Mexico and Vietnam. Foxconn entered the industry in 1974 as a TV component manufacturer. It is now one of the most influential technology companies in the world, with annual revenue of $200 billion. Although Foxconn is primarily known as a major manufacturer of Apple products, including the iPhone and iMac, its customers include Microsoft, Sony, Dell and Amazon.
To understand how important Foxconn is to Apple, you only need to look at how much of the iPhone is produced by Foxconn. About 60% by some estimates. Factories in China produce some of the most important parts of the device. For example camera modules, connectors and even the back panel of the phone case.
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