Rumor: Foxconn to Abandon Shenzhen

Liaoning Daily, 6/28/10

Beijing media has reported that Taiwanese electronics manufacturer Hon Hai (2317.TW) will soon abandon its Foxconn (2038.HK; 2354.TW) facilities in Shenzhen, seeking to relocate inland, with Tianjin's Binhai New Area currently the most attractive destination. The same reports claim that while the bulk of Foxconn will relocate to Tianjin, the Shenzhen facility will continue to provide OEM manufacturing for Apple. Foxconn's workforce will be reduced from 400,000 to approximately 100,000. Tianjin municipal government officials reportedly left to meet with Foxconn officials in Shenzhen on June 25. Neither Foxconn nor Tianjin officials had commented on the rumor at the time of publication.

Keywords: hardware Foxconn Binhai New Area 2038.HK 2354.TW Apple OEM Shenzhen Hon Hai 2317.TW withdraw contract manufacturer

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