Foxconn Ploughs $210M Into New iPhone Production Plant

Foxconn Ploughs $210M Into New iPhone Production Plant

The iPhone is big business — and nothing arrives as evidence more so than a new report this week which claims Apple’s Far Eastern contract manufacturer, Foxconn, is gearing up to plough $210,000,000 into the development and eventual building of a new ‘high-tech’ iPhone production plant.

The new plant is set for China‘s east Jiangsu province, according to the announcement made earlier today, and will reportedly cover a staggering 40,000 sq meters.

The plant will also create jobs for an expected 35,800-strong workforce Foxconn is anticipating it will be able to bring on board.

The plant housing the production line, to be located in Huai’an city, will produce components for American multinational corporation, Apple Inc, said the office of Taiwan Affairs of Huai’an city.

As for operating costs, once building work is complete and the factory begins its contracted workload, the new extension to the multi-billion dollar firm is expected to churn out 6-7 Billion yuan per year in raw product value alone, (that equates to roughly $949M-$1.1B).

/ AppleInsider