‘Perfect landing spot.' Apple plans to spend more in Vietnam as it looks beyond China

Apple is planning to increase its component purchases from Vietnam, following a trend among tech companies to diversify supply chains and explore new markets. CEO Tim Cook expressed this during a meeting with Vietnamese Prime Minister Pham Minh Chinh. Apple has already invested a significant amount in Vietnam’s supply chain and has created thousands of jobs in the country. This move by Apple highlights Vietnam’s growing importance as a manufacturing hub, especially amid trade tensions with China. Vietnam’s lower labor costs and growing tech sector make it an attractive alternative for companies looking to expand outside of China.