Fushan Technology Vietnam, owner of the Microsoft's mobile phone factory in Bac Ninh province has slashed dramatically its number of laborers by 10,000 down to 3,000 only after the acquisition deal.
The factory has just experienced an acquisition of US$350 million by FIH Mobile Ltd under Taiwan-based Hon Hai Hon Hai Precision Industry (Foxconn) and Finland-based HMD Global Oy.
The Redmond-based corporation sold all of its feature phone business including brand, software, services, customer contracts, important provision agreements and mobile factory to FIH Mobile Ltd in 2016. The acquired company was renamed Fushan Technology Vietnam Liability Limited Company (Fushan Technology Vietnam).
Fushan Technology Vietnam is the third owner of the factory. Previously, Microsoft became the owner of the mobile phone manufacturing factory in Bac Ninh Province after acquiring Nokia's phone business in April 2014 for US$7.2 billion.
According to Bac Ninh Portal, Microsoft Mobile Vietnam Limited Liability Company produced 95.7 million of products with revenue of VND2.500 billion (equivalent to US$110 million)
Fushan Technology Vietnam mainly produces the common cell phones with the production target of 50 million products per year. Its revenue is expected to reach more than VND1200 billion (roughly to US$52.9 million).
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