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Apple supplier BOE plans new factories in Vietnam

BOE is in talks to rent dozens of hectares of land in north Vietnam to add to its relatively small plant in the south that supplies mostly television screens to South Korea's Samsung and LG Electronics Inc, the people said, declining to be identified as negotiations were confidential.

January 11, 2023 / 08:48 AM IST
Representational image (Source: Reuters)

Representational image (Source: Reuters)

Chinese display maker BOE Technology Group Co Ltd, a supplier of both Apple Inc and Samsung Electronics Co Ltd, plans to invest a substantial sum to build two factories in Vietnam, two people familiar with the matter said.

The investment may total up to $400 million, one of them said.

The plan underscores efforts by technology firms led by U.S. iPhone maker Apple and Taiwanese device assembler Foxconn to lower supply chain exposure to China amid trade and geopolitical tension between Beijing and Washington and production disruption caused by China's COVID-19 containment measures.

BOE is in talks to rent dozens of hectares of land in north Vietnam to add to its relatively small plant in the south that supplies mostly television screens to South Korea's Samsung and LG Electronics Inc, the people said, declining to be identified as negotiations were confidential.