Foxconn Technology Group has denied growing speculation that it is dismantling assembly lines at its production complex in the southern tech hub of Shenzhen, following concerns raised on Chinese social media that the country stands to lose its primary role in Apple’s manufacturing supply chain, reports the South China Morning Post.
Reports earlier this month that Apple supplier Foxconn, the world’s largest electronics contract manufacturer, plans to invest about $700 million on a new plant in India to boost local production fanned heightened concerns across Chinese social media of an accelerated shift of production away from China, as tensions between Beijing and Washington escalate. The Taiwanese company, however, has not formally announced that investment.
A representative of Foxconn on Thursday said that recent online posts—including short video clips that suggest the company was firing temporary workers and tearing down production lines in Shenzhen—were “false,” adding that the firm maintains normal operations in the city.
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