Foxconn plans 1b yuan HQ in Zhengzhou

Reuters

Taiwan's Foxconn, the world's largest contract electronics maker and Apple's biggest iPhone assembler, said yesterday that it plans to invest 1 billion yuan (HK$1.07 billion) to build a new business headquarters in Zhengzhou, located in China's Henan Province.

Foxconn, known as Hon Hai Precision Industry in China and Taiwan, signed a contract with the Henan provincial government for the proposed project, which will have an area of about 700 acres, the company said.

Foxconn is benefiting from strong demand for servers for artificial intelligence applications, with its customers also including AI chip darling Nvidia.

The Taiwanese company this month posted better-than-expected quarterly revenue on AI server demand and forecast continued growth in the current quarter.

Apple is working on a foldable iPhone that could be released as early as 2026, according to The Information.

The release of a foldable iPhone appears to follow on from Samsung Electronics, which pioneered the foldable segment in 2019 in a bid to attract new customers with a major hardware design refresh.

Apple's foldable iPhone has already progressed past the ideation stage, the report said, citing two people with knowledge of the matter.