Wistron boosts Vietnam investment with $24.5M injection

Wistron boosts Vietnam investment with $24.5M injection

Wistron Corporation conducted a Board of Directors meeting on August 4 to disclose its financial results for the first half of 2023. Subsequently, the company approved a plan to invest $24.5 million in a newly established subsidiary called Wistron Technology (Vietnam) Co., Ltd. This investment aims to expand Wistron’s manufacturing capacity in Vietnam and strengthen its supply chain resilience to meet customer demands. Wistron had previously invested approximately $300 million in its Vietnamese operations. The company began establishing its manufacturing base in Vietnam in 2019 and obtained an investment certificate in 2020 to develop a high-tech electronics product factory in Dong Van III Industrial Zone in northern Vietnam through its subsidiary, Wistron Infocomm Co., Ltd.

Recent reports indicate that Wistron is planning to wind down its operations in India after a successful presence of fifteen years. It is currently in talks with Tata Group regarding the acquisition of its factory in India. Additionally, in 2020, Wistron ceased iPhone assembly in China after selling its manufacturing unit to Luxshare.

During the first half of 2023, Wistron achieved a total revenue of $13.2 billion, with an operating income of $318.2 million, profit before tax of $277.2 million, and profit after tax of $108 million.

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