Contract electronics maker Foxconn (2038.HK, 2354.TPE) said Wednesday it is finalizing the relocation of its main production facilities in Shenzhen to Langfang, in China’s northern Hebei province, to mitigate rising labor costs, the Wall Street Journal reported. A spokesman for Foxconn, a subsidiary of Hon Hai Precision Industry (HHPD.LSE), said the relocation is expected to be completed this year. Other recent media reports have said that Foxconn will open a plant in the central province of Henan. The manufacturer of products for companies including Apple (AAPL.NASDAQ), Nokia (NOK.NYSE, NOA3.FWB) and Motorola (MOT.NYSE) reported a first-half net loss of US$18.7 million in 2009. Foxconn said Tuesday it expects that loss to widen from a year earlier, mainly because of lower product prices, changes in the company’s product mix and higher depreciation expenses.
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