Key Apple Partners Plan Expansion in Southeast Asia in 2023

(Bloomberg) — Apple Inc. partners Foxconn Technology Group and Pegatron Corp. included Southeast Asia in their expansion plans for 2023, in a sign major global contract electronics manufacturers will continue to add production capacity outside China to mitigate geopolitical and economic risks. 

“We will continue to grow our scale in mainland China, the Americas and Southeast Asia, and these efforts will blossom in 2023,” said Young Liu, chairman of Foxconn’s flagship unit Hon Hai Precision Industry Co., at a company event on Sunday.