The Board of Directors of Wistron Corp - a Taiwanese electronics enterprise (China), one of Apple’s three largest iPhone manufacturing partners - on August 4, 2023 approved a resolution to pour $24.5 million into the company. New manufacturing company established in Vietnam to expand business.

Specifically, Wistron will pour capital into Wistron Technology (Vietnam) Co., Ltd. This is the factory that supplies the main graphics processing unit (GPU) server module to Nvidia - a technology company from the US.

Wistron’s semi-annual financial data for 2023 shows that the company’s net profit in the second quarter of 2023 skyrocketed to TWD 3.25 billion (about $ 1.03 billion), while this figure for the first quarter was 174 million TWD (about 5.48 million USD).

Earnings per share (EPS) increased from $0.0019 to $0.037. However, this figure is still down from $0.048 last year.

Wistron attributed this growth to other profits, including foreign exchange earnings of TWD 1.52 billion ($47.8 million). In addition, the revaluation of this company’s stake in Luxshare has increased by 535 million TWD (about 16.85 million USD).

Luxshare is also a supplier of Apple products in China. This unit has 6 manufacturing plants in Vietnam, of which 3 are located in Bac Giang and 3 other factories in Nghe An.

Wistron has so far invested about $300 million in Vietnam (excluding the newly approved $24.5 million). Wistron Infocomm Vietnam Co., Ltd. is the first member of Wistron in Vietnam, operating in the field of manufacturing monitors and computer peripherals. But this unit is not yet an Apple supplier.

Wistron Infocomm Vietnam is located in Dong Van III Industrial Park (Duy Tien, Ha Nam). In July 2022, the factory received the certificate of priority enterprise issued by the General Department of Vietnam Customs. The certificate helps the company get priority in customs clearance, inspection and supervision for exported and imported goods. Wistron Infocomm Vietnam is the first company in Ha Nam province to achieve this certificate.

As for Wistron Technology Co., Ltd. (Vietnam), a newly established subsidiary of Wistron that is expected to pour $24.5 million above, has not been registered in Vietnam.

Wistron is the first enterprise to build an iPhone assembly plant in India. Recently, however, the media reported that Wistron is about to sell its third production line to Tata Group after selling two factories to rival Luxshare. In 2020, Wistron also stopped assembling iPhones in China, selling part of the line to Luxshare.