Meiko Electronics will invest ¥50 billion ($340 million) to construct a manufacturing facility in Vietnam, producing specialized electronic substrates for iPhones as Apple accelerates its production shift away from China. The plant, set to begin operations in fiscal 2026, will supply three-dimensional printed circuit boards to Apple’s assembly facilities in India.
The Japanese manufacturer’s expansion comes as iPhone makers scramble to adapt to President Donald Trump’s aggressive tariff policy, which has imposed a 54% duty on Chinese imports, compared to 26% for Indian goods. The tariffs have thrown into disarray Apple’s previous “China Plus One” diversification strategy, which had seen the company increase manufacturing in countries like Vietnam and India.
Meiko, which already operates three plants in Vietnam, will build the new facility in Hoa Binh near Hanoi. The company has been expanding its presence in smartphone component manufacturing while maintaining a strong position in automotive PCBs.
Analysts forecast Apple will increase iPhone production in India to approximately 25% of its total volume by 2027, up from about 15% currently. The shift reflects Apple’s response to both Trump’s trade policies and India’s production-linked incentive schemes.
Apple shares fell over 9% last Thursday following Trump’s tariff announcement, wiping out more than $300 billion in market value in their worst one-day performance since March 2020. Other Japanese companies including TDK are similarly expanding outside China, with the battery maker set to begin operations at an Indian plant this summer.
