Mobile phone giant to build $200m plant in Vietnam

Foxconn International Holdings, the world's largest contract mobile phone maker, will start construction of a $200-million plant in Vietnam in the second quarter of this year, reported VNBusinessNews.com, quoting industry sources.

Terry Gou, chairman of Foxconn, said the new plant will be located in Vinh Phuc Province, which is 60 kilometers to the north of Hanoi, the capital of Vietnam.

Reportedly, the new plant will be able to produce 89 million handsets and hundreds of millions of handset parts annually.

In January, Foxconn said it expected a significant drop in net profit for last year, mainly due to declining demand and prices amid the global financial crisis.

The firm's turnover in the first six months of 2009 fell 33.99 percent year on year to $3.16 billion.

Foxconn International is the subsidiary of Taiwan-based Hon Hai Precision Industry Co, the biggest contract manufacturer of electronics in the world.

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