Tim Cook Visits Vietnam for Apple’s Supply Chain Expansion

May 2024

Apple plans to increase its investment in Vietnam, according to state media quoting CEO Tim Cook during his visit to Hanoi in April 2024. Vietnam is already a crucial manufacturing hub for Apple. Cook made these remarks during a meeting with Prime Minister Pham Minh Chinh, who announced that Vietnam would establish a working group to support Apple’s investment.

Apple recently released a statement on its website indicating that it will boost its spending on suppliers in Vietnam. The company has already spent approximately VND 400 trillion (USD 5.8 billion) and created 200,000 jobs in the country. Apple did not provide further comments on its future spending plans.

Cook arrived in Hanoi for a two-day visit, during which he met with suppliers, students, content creators, and Apple product users. Apple currently manufactures iPads, AirPods, and Apple Watches in Vietnam, and suppliers for its MacBook computers are also investing in the country.

According to Apple’s latest supplier list, the company had 25 suppliers in Vietnam as of 2022, consistent with the previous year and an increase from 21 in 2020. These suppliers include Foxconn, GoerTek, Luxshare, Intel, Samsung Electronics, and Compal.

Suppliers for major vendors like Foxconn are also moving or planning to move to Vietnam, with some shifting activities from China due to US-China tensions. Several industry sources confirmed these moves but declined to name the companies as the plans are still confidential.

(Source: Bangkok Post)

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