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Foxconn suggests that China could soon stop being the world’s factory

By Samuel Martinez August 12, 2020, 8:10 pm

China has been the best country to manufacture goods for a low price, while still delivering quality products. However, it seems that Foxconn believes that China will stop being the world’s manufacturing epicenter, as the US-China trade war will drive several companies out of Chinese territory.

The US-China trade war has made Foxconn take precautions, and it has already started to move some of its iPhone production to India. It has also begun to work towards building a new factory in US soil. Now, according to a new report from Bloomberg, Foxconn’s chairman Young Liu says that China’s “days as the world’s factory are done.” And that “No matter if it’s India, Southeast Asia or the Americas, there will be a manufacturing ecosystem in each.”

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The company’s manufacturing capacity outside of China has grown to 30 percent of its total, from 25 percent in June. The company could also be trying to get more workers to focus on the iPhone 12 production, even though Apple has already announced that its new lineup will be delayed.

Source MacRumors

Via Bloomberg

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