© jakub krechowicz dreamstime.com Electronics Production | March 31, 2016
Foxconn to invest billions in Chinese subsidiaries
The Taiwanese giant is investing about USD 1.65 billion in several of the company's Chinese subsidiaries.
The subsidiaries receiving the investments focuses on handsets, optical lenses, glass products, automation systems and robots. Foxconn has expanded the investment in its Zhengzhou, China subsidiary by USD 1.5 billion. This company mainly deals with handset products and the investment is planned to be used to strengthen the subsidiary's production line for new iPhone products, according to a report in DigiTimes. The company has also invested about USD 100 million to set up a subsidiary in China to develop and manufacture – and sell – optical lenses, glass products and glass products. The rest of the investment is spread out over manufacturing machine tools and automation systems, as well as establishing another subsidiary to manufacture paper and packaging boxes, the report continues.