Chinese original equipment manufacturer (OEM) Shenzen Grandson Electronic Co. Ltd. is expanding its manufacturing operations in the Philippines by adding two facilities that will increase its total investments to P3 billion.
The Board of Investments (BOI) met with Shensen Grandsun chairman and founder Charles Wu at the sidelines of the China-ASEAN Exposition 2023 in Nanning, China to discuss company plans on stretching its capability to produce more audio products for the US and European markets.
“In the last five days alone, we have seen very tangible advancement in at least two investment leads generated during President Ferdinand Marcos Jr.’s official visits,” said Trade Secretary and BOI chairman Alfredo Pascual.
He said the DTI and BOI ensure that the companies deliver on their investment commitments and go beyond their committed economic value-adding activities.
Shenzhen Grandsun was one of the Chinese companies that attended the exclusive roundtable meeting on strategic projects with President Ferdinand Marcos Jr. during his state visit to China in January 2023.
Wu said Grandsun Advanced Electronics (Philippines) Co. Inc. (GAEPCI), which began its audio devices production facility at the LIMA facility in Batangas province during the pandemic, would open two new facilities by 2025 to complement the existing manufacturing capacities at the four facilities.
The audio product manufacturer expect local hires to reach 1,000 in 2023 and 8,000 by 2028.
Shenzen Grandsun is a Guangdong-based electronics company at the forefront of the global production of headphones. It plans to complement the production of headphones by producing OEM speakers on the second phase of expansion.
BOI managing director Ceferino Rodolfo said the complementarity of Shenzhen Grandsun in the Philippines is a good model for other possible Chinese locators in the Philippines.
He said the investment setting in the Philippines allows a top Chinese OEM and original brand manufacturer to work with Filipino talent as they address growing global requirements of their top customers especially from the EU and the US.
Shenzhen Grandsun ranked seventh globally on the Global Smart Headphone Invention Patent Ranking, just behind Apple which is at the 5th spot and Qualcomm at 6th, and ahead of LG at 8th and Huawei at 10th.
The company steadily built a global reputation for exceptional audio, technology and design, winning over 70 international awards since 2015.