With the global EMS market rising lately, it’s easy to be surprised by the rumors of the largest electronics contractor in the world closing down factories. Amidst this and other rumors (like breaking off ties with Huawei and taking the US’s side in the recent US/China trade dispute) Foxconn has gone on record to say that it’s all false. With 31 years of investment in business within the Chinese mainland, Foxconn says it wishes to deepen its presence in the Chinese market, not pull out, and denies the rumors of mass layoffs and closures in China.

Though tension between China and the US could place pressure on Foxconn, stuck in the middle with 20 years of research and development efforts in the US as well, for now it seems that the rumors of closure, layoffs, and closed factories are just nervous rumors.

You can read the full article on China Daily