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The Board of Directors at Wistron – an Apple partner – has recently greenlit a plan to inject an additional $24.5 million into its manufacturing site in Vietnam.
On August 4, Wistron Corporation held a meeting of its Board of Directors, announcing the financial results for the first half of 2023. Following the meeting, the company approved a capital injection proposal of $24.5 million in a newly established subsidiary, Wistron Technology (Vietnam) Co., Ltd.
The expansion of its manufacturing scale in Vietnam is part of Wistron's plans to enhance the resilience of its supply chain and respond to customer needs. It had previously invested about $300 million into its Vietnamese operations.
The Taiwanese company started the establishment of its manufacturing base in Vietnam in 2019. In 2020, its Vietnamese subsidiary, Wistron Infocomm Co., Ltd., received an investment certificate to develop a high-tech electronics product factory in Dong Van III Industrial Zone in northern Vietnam.
Earlier it was reported that Wistron is preparing to wind down its operations in India after a successful business stint spanning over fifteen years. Tata Group is close to signing an agreement with Wistron to acquire its factory there. In 2020, Wistron also stopped iPhone assembly in China after selling its manufacturing unit to Luxshare.
In the first half of 2023, Wistron recorded a total revenue of $13.2 billion, operating income of $318.2 million, profit before tax of $277.2 million, and profit after tax of $108 million.
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By Thanh Van
