Apple's partner will open a branch in Vietnam

Goertek – Apple's manufacturing partner for AirPods headphones and Vision Pro glasses – will invest up to about 280 million USD to establish a subsidiary in Vietnam.

In a recent filing to the Shenzhen Stock Exchange, Goertek said it will invest up to about 280 million USD to establish a subsidiary in Vietnam with the aim of expanding its business and ensuring long-term operations here.

Goertek will invest up to about 280 million USD to open a subsidiary in Vietnam.

Goertek's Vietnam entity will primarily manufacture consumer electronics products, from AirPods headphones and smartwatches to virtual reality and augmented reality devices.

"The project takes advantage of utilizing local human resources in Vietnam to enhance the company's overall competitiveness," SCMP quoted a statement from Goertek.

Goertek is one of the major Chinese suppliers approached by tech giant Apple to produce its Vision Pro mixed reality glasses, which are expected to be released in February in the US.

Goertek's subsidiary in Vietnam was established through the legal entity Goertek Hong Kong, possibly located in Bac Ninh province, one of the areas that attracts many Korean investors such as Samsung Electronics. Korean companies open factories producing electronics, semiconductors, smartphones and precision mechanical equipment here.

Goertek’s move comes as Apple begins to shift more production outside of China. Due to China’s Covid-19 restrictions, the “Apple” manufacturing supply chain has been disrupted and will affect sales in the 2022 holiday season. Since then, Apple has encouraged its partners to diversify their operations in other countries, including Vietnam.

According to research by investment bank TD Cowen, Apple suppliers – including Foxconn – have invested up to $16 billion to reduce their dependence on China, thereby relocating factories to India, Vietnam, Mexico and the U.S. Last year, Foxconn announced plans to invest $1.6 billion to increase its presence in India.

Source: https://baoquocte.vn/goertek-doi-tac-cua-apple-se-mo-chi-nhanh-tai-viet-nam-257972.html