"No matter if it's India, Southeast Asia or the Americas, there will be a manufacturing ecosystem in each," Liu said.
Foxconn - also known as Hon Hai - reported a 34 per cent increase in quarterly profits on the back of booming demand for cloud computing equipment related to more internet use during the pandemic, and as production recovered from coronavirus-induced shutdowns at the start of the year.
Revenues fell slightly, as the company focused on higher-margin products such as high-performance computing.
Slower iPhone sales expected
However, it said it expects sales to decline in the coming months as Apple delays the release of this year's iPhones. Apple said last month that the new devices, expected to be the first featuring 5G technology, will go on sale a few weeks later than usual. Apple is Foxconn's biggest customer, and although demand for the company's devices has been stronger than expected in recent months, the delay is likely to lead to slower sales in the third quarter of the year.
The White House has introduced a series of increasingly punitive tariffs on Chinese imports over the past two years, and demanded that manufacturing move to the US.
The tariffs have led manufacturers to either increase consumer prices or move production outside of China, although rarely to America. Foxconn promised to open a $10b ($15.2b) factory in Wisconsin in 2017 although it has scaled back plans and made slow progress on opening. Taiwanese microchip company TSMC recently announced plans for its own facility in Arizona.
- Telegraph Group Ltd