Are you sure?

Hon Hai moves European headquarters to Hungary

The Taiwanese company Hon Hai Precision Industry has moved its European headquarters to Hungary from Finland to keep close to mobile phone customer Nokia, according to a local press report citing Hon Hai executives, Dow Jones reported. Hon Hai has completed the second stage of expansion at a plant in Hungary that will double handset production at the factory and make it Europe's largest facility for mobile phone production, the Taiwanese paper Commercial Times reported, citing Chung Wen-hsin, vice president of Hon Hai's Foxconn subsidiary. Hon Hai shifted production to Hungary in part to help cut production costs, the report said. Foxconn Hungary opened a USD 45 million electronic components factory at the industrial park in Komárom, northwest Hungary last year. Nokia also has a plant in the Komárom industrial park.