The company is to invest $1.1bn to make the largest smartphone-producing facility in the world in Zhenzhou
Taiwan-based Apple manufacturing partner Foxconn is said to be planning on expanding the size of its Zhengzhou plant, which produces iPhones, with an investment of $1.1bn to make it the largest smartphone-producing facility in the world.
Foxconn is expected to double the size of the workforce, recruiting an additional 100,000 employees, leading to massive increase in production.
According to Chinese newspaper China Daily, Foxconn hopes to rake in sales revenues worth $20bn, once the expansion is complete. Foxconn will reportedly increase the number of production lines to 95.
Foxconn had opened two new factories in Henan and Sichuan last year, with an eye on rising markets in the inland provinces and lowering labour costs.The company has another production unit in Brazil, where certain models of the iPhone are manufactured.