Meiko Electronics, a Japan-based manufacturer of printed circuit boards (PCBs), is investing approximately USD 350 million in a new production facility in Vietnam’s Hoa Binh Province, with the output destined for iPhone assembly operations in India. The plant is expected to begin operations in the 2026 fiscal year and will produce a new generation of ultra-small, low-power PCBs.
The PCBs manufactured at the Hoa Binh plant will be shipped to Apple’s assembly base in India, as part of the company’s broader shift in its supply chain. India has become a key manufacturing destination for Apple amid efforts to diversify production away from China.
Meiko is also investing an additional USD 300 million to expand its existing Factory 4 in Hanoi, Vietnam. The expansion, scheduled for completion by March 2027 and operations starting in April 2027, will increase the plant’s annual production capacity to 2.16 million square meters of Plated Through Hole PCBs, 1.32 million square meters of Built-Up PCBs, and 540,000 square meters of Flexible Printed Circuits. The facility’s workforce will grow from 3,770 to 4,170 employees.
These moves support growing demand from Apple’s assembly operations in India. Analysts estimate that India’s share of iPhone manufacturing may rise from the current 15% to 25% by 2027. Apple’s key suppliers, including Meiko and TDK, are increasing their manufacturing presence in Asia outside China to mitigate geopolitical and trade risks. TDK, which produces smartphone batteries, also plans to begin operations at a new plant in India later this year.