Apple Shifting Some Production From China To Vietnam Leads To Suppliers Fighting Over Poaching

As Apple Inc's AAPL supply chain returns online after several COVID-19 disruptions, its efforts to shift some production out of China have left a key partner less than pleased.

What HappenediPhone assembler Hon Hai Precision Industry Company Ltd HNHPF has taken exception to Chinese rivals shifting base to Vietnam and poaching its employees, Bloomberg reported.

Without naming the companies, Foxconn's Chairman Young Liu was quoted as saying Chinese rivals had set up operations near its campuses in Vietnam to poach Foxconn employees, the report said.

Related Link: Apple Supplier Foxconn Weathers It All To Report Highest Quarterly Profit In 8 Years 

Bloomberg noted that three of Foxconn's Chinese rivals, namely Luxshare Precision Industry CoGoerTek Inc, and BYD Electronic (International) Company Ltd BYDIY have operations in Vietnam. 

The first two manufacture AirPods, while BYD is getting started on iPad production.

Foxconn is based in Taiwan but has much of its production in China. Vietnam, according to Bloomberg, is the company's second-largest manufacturing base after China, where it currently employs about 600,000 people and hopes to grow that over the next couple of years.

Price Action: Foxconn shares trading over the counter in the U.S. closed 1.30% lower at $7.60, according to  Benzinga Pro data.


Posted In: AirPodsfoxconniPhoneYoung LiuAsiaNewsMarketsTechMedia

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.