GOERTEK TO SET UP $280M VIETNAM SUBSIDIARY

The world’s leading mobile phone manufacturer Apple plans to invest a whopping $280 million dollars in Vietnam in 2024! Manufacturer of AirPods, GoerTek, plans to set up a subsidiary in the northern province of Bac Ninh. It is aimed to manufacture headphones, smart watches and virtual and augmented reality electronic products said the company in a recent filing with the Shenzhen Stock Exchange. The company hopes to “make better use of local resources in Vietnam to enhance the company’s overall competitiveness.”

This is in line with Apple’s long-term strategy to diversify its production assets and supply chain away from China.