Foxconn Technology Group, a major contractor of the world's digital devices, denied rumors it was going to leave the Chinese mainland and move to other markets.
"Currently business is being operated in an orderly manner and no capital withdrawing has taken place, it said in a statement sent to the Global Times on Monday.
Foxconn has invested heavily in the mainland market since 1988, as it has developed and grown with the mainland's economy in the past 30 years. The company will continue to take root in the mainland and deepen its development, the company added.
The comments came after media reports that the company had planned to move Apple devices assembly lines out of Chinese mainland, as it had tried to assuage investors' concerns amid the escalation of the U.S.-China trade conflict.
"We are totally capable of dealing with Apple's needs to move production lines if they have any," Young-Way Liu, the head of Foxconn's semiconductor business group, was quoted as saying by WSJ on Tuesday.
He made the comments at the company's first-ever investor meeting and conference call since going public in 1991.
As the world's largest original equipment manufacturer (OEM) with more than 1.2 million workers, the company is currently facing a series of challenges.
In October 2018, there were already media reports that due to lower-than-expected iPhone XS sales, Apple had told Foxconn to reduce production by 10 percent, leading to massive layoffs at the OEM.
Foxconn now has factories in Brazil, Mexico, Japan, Vietnam, Indonesia, the Czech Republic, the U.S. and Australia.
