Foxconn to Acquire Fushan Technology Vietnam
In a report submitted to the Taiwan Stock Exchange (TWSE) on May 13th, Foxconn, formally known as Hon Hai Precision Industry Co., Ltd., announced its plan to invest $35.8 million to acquire a 100% stake in Fushan Technology Vietnam. This move will be executed by Chief Expertise Limited, a subsidiary of FIH Mobile Limited, which is itself a subsidiary of Foxconn, headquartered in Taiwan.
The transaction will require approval from Vietnamese authorities, and upon completion, will bring the total investment in Fushan Technology Vietnam to $168 million, fully contributed and held by Chief Expertise Limited. Foxconn stated that this is a long-term investment.
Fushan Technology Vietnam’s primary operations include the manufacturing, processing, and assembly of mobile phones, audio devices, computer equipment (PCBA), optical devices (lenses and projectors), smart watches, and other electronic products.
The company, formerly known as Nokia Vietnam, received its investment certificate in November 2011. Construction began in March 2012 and was completed in September 2013, with production commencing in June 2013.
Following Microsoft’s acquisition of Nokia’s Devices and Services business in April 2014, Nokia Vietnam was renamed Microsoft Mobile Vietnam in December of the same year. Subsequently, Microsoft agreed to sell its feature phone business to FIH Mobile Limited, a Foxconn subsidiary, and HMD Global, Oy, for $350 million. As a result, FIH Mobile Limited took over Microsoft Mobile Vietnam, which was later renamed Fushan Technology Vietnam in 2017.
This is Foxconn’s second move within three months to fully acquire companies based in Vietnam. In February, New Wing Interconnect Technology (Bac Giang), an indirect subsidiary of Foxconn, signed an agreement with a third party to purchase Goertek Electronics Vietnam Co. Ltd., a Chinese-invested enterprise. As a result, Foxconn indirectly owns 100% of Goertek Electronics Vietnam through its subsidiaries.
Foxconn is the world’s largest contract electronics manufacturer and assembles products for numerous companies, including Apple, for whom they are the largest iPhone assembler. Other notable products manufactured by Foxconn include the iPhone, iPad, and iPod (Apple), Kindle (Amazon), and PlayStation (Sony). These products are all flagship devices from leading global corporations, boasting massive user bases.
Vietnamese Enterprises Aim High: Aspiring to Become the Next Foxconn, Pegatron, or Luxshare
Introduction: A rare Vietnamese company with the capability to export finished electronic products, rather than just providing packaging, plastics, mechanical parts, or individual components.
Foxconn Acquires Goertek Electronics, Expanding Its Manufacturing Empire in Vietnam
Taiwanese tech giant Foxconn has expanded its presence in Vietnam with the acquisition of Goertek Electronics Vietnam, a leading electronics manufacturer based in Bac Ninh. With this strategic move, Foxconn reinforces its commitment to strengthening its manufacturing capabilities and footprint in the country.
The Trump Factor: How a Billion-Dollar Deal with the Trump Organization Affected a Vietnamese Tycoon’s Company
“Alongside the market price, KBC’s liquidity also surged, recording one of the highest turnovers in the market, second only to HPG, with over 20 million units traded.”
“The $1.5 Billion Trump Organization Deal: Dang Thanh Tam’s Invitation to Global ‘Heavyweights’”
The Trump Organization is proud to announce its latest venture in Vietnam – a prestigious golf and urban complex in Hung Yen. This world-class development will feature a 54-hole VVIP golf course for exclusive events, a public 54-hole golf course, and a modern residential urban township. With this project, we aim to bring an unparalleled golf and lifestyle experience to Vietnam, offering the ultimate in luxury and sophistication.
Cheers to Bill Gates: The Unsung Hero Behind the iPhone’s Success
It is often said that Steve Jobs was the father of the iPhone, but if it weren’t for the “lifeline” that Bill Gates threw out 17 years ago, there probably wouldn’t be an iPhone 16 launching on September 9th.
The Ghost City of iPhone: From 300,000 Workers to a Silent Reminder of the Past
Once bustling, the so-called “iPhone City” now faces an uncertain future as Apple shifts production.
