Amazon said its operations in Vietnam are defying a global downturn hitting Big Tech, thanks in part to an influx of Chinese businesses moving into the south-east Asian nation. Gijae Seong, head of Amazon Global Selling in Vietnam, said the local division has grown more strongly this year than in 2021, even as the company last month reported a $2.5bn third-quarter operating loss for its international segment. While he declined to disclose country-specific revenue, Seong said the number of local exporters using Amazon in Vietnam spiked 80 per cent in the 12 months to August. Read More...
Reuters
Apple supplier Foxconn to update on outlook after China COVID curbs
Apple Inc supplier and iPhone assembler Foxconn plans to update its fourth-quarter outlook on Thursday, having warned this week of the impact of COVID-19 restrictions at a major plant in China’s Zhengzhou. Foxconn’s main Zhengzhou plant in central China, which employs about 200,000 people, has been rocked by discontent over stringent measures to curb the spread of COVID-19, with many workers fleeing the site. The lockdown ended on Wednesday, though Foxconn said it was maintaining “closed loop” operations, referring to a bubble-like arrangement commonly imposed as part of virus prevention measures in China, where employees sleep, live and work isolated from the wider world.
