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Foxconn opens display manufacturing factory in Vietnam

The $26-million factory in Quang Ninh province produced its first batch of products on Tuesday.

The Vietnamese government said on Wednesday that the plant will produce 20,000 display screens this year.

Apple supplier Foxconn last week forecast strong demand for the new iPhone 12 in the holiday quarter and stressed that it would continue investing in the United States as scheduled and is looking at making new products there.

Foxconn’s planned $10 billion investment in the U.S. state of Wisconsin did not create enough jobs in 2019 to earn tax credits, the state government said last month.

Foxconn initially sought to make advanced large-screen displays for TVs at the Wisconsin site. It later said it would build smaller liquid crystal display screens instead.

Foxconn reported near flat third-quarter profit. It booked July-September net profit of T$30.8 billion ($1.08 billion), Reuters calculations showed based on nine-month figures, versus T$30.7 billion a year earlier.

Chief Financial Officer David Huang said third-quarter revenue fell 7 percent due to clients delaying product launches.

Foxconn expects consumer electronic product revenue to rise about 10 percent in the fourth quarter, as well as next year.

Consumer electronics, including smartphones, made up 41 percent of revenue in the third quarter, followed by devices for cloud computing at 28 percent and other computing products such as laptops at 24 percent.-Telecomlead

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