iPhone Manufacturer Foxconn To Invest $1bn In Indonesia

foxconn

iPhone manufacturer Foxconn has signed a letter of intent promising to invest up to $US1 billion in Indonesia.

The $1 billion investment would be carried out in between three and five years, and will cover areas including R&D, electronics software design, manufacturing and assembly of electronic products.

The investments will be focused in the Jakarta province — which has better infrastructure than other parts of Indonesia.

The move is part of an effort on the part of Foxconn to diversify its production portfolio, after losing ground in China. In May 2013, Pegatron took much of Foxconn’s Apple business after offering more favorable rates. Last year Foxconn announced plans to spend $30 million in manufacturing and research facilities in the United States.

Currently the company has production facilities in more than ten different countries — including Vietnam, Brazil and Mexico.

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About the author

Luke DormehlLuke Dormehl is a UK-based journalist and author, with a background working in documentary film for Channel 4 and the BBC. He is the author of The Apple Revolution, published by Random House, and is currently writing a book about algorithms for Random House/Penguin to be published in 2014. He also covers the digital humanities for Fast Company. He'd like you a lot if you followed him on Twitter.

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