China’s days as world’s factory are over, iPhone maker says

Foxconn is bouncing back from a record profit slump in the first quarter as production at its factories recovered and shelter-in-place orders spurred demand for home computing equipment. — Reuters

A key supplier to Apple Inc and a dozen other tech giants plans to split its supply chain between the Chinese market and the United States, declaring that China’s time as factory to the world is finished because of the trade war.

Hon Hai Precision Industry Co Chairman Young Liu said it’s gradually adding more capacity outside of China, the main base of production for gadgets from iPhones to Dell desktops and Nintendo Switches. The proportion outside the country is now at 30%, up from 25% last June.