Foxconn invests $50 mln Goertek stake for Vietnam expansion

Foxconn Interconnect Technology (FIT), through its subsidiary New Wing Interconnect Technology (Bac Giang) Co., Ltd., has acquired a 25% stake in Goertek Electronics Vietnam for $50 million.

Foxconn states that this strategic investment aims to enhance the company's position in the electronics industry in Vietnam.

"The decision was made through price negotiations and the acquisition is expected to solidify Foxconn's market presence in Vietnam," the company revealed in its acquisition announcement.

Goertek Electronics Vietnam, a subsidiary of the Goertek Group (China) and an Apple partner, primarily manufactures headphones, headphone chargers, and smartwatches in northern Bac Ninh province.

Goertek is currently investing in four projects in Bac Ninh with a total registered investment capital of over $1.3 billion.

In 2025, Goertek plans to invest in a new project, bringing more foreign experts and new technical equipment to Vietnam, and employing approximately 60,000 Vietnamese workers.

Foxconn began investing in Bac Ninh's neighboring Bac Giang province in February 2007 and currently has 11 projects with a total investment of over $2.2 billion. It is the largest foreign direct investment (FDI) enterprise in the locality, providing employment for approximately 80,000 workers.