iPhone Maker Foxconn Will Invest Rs 13,000 Crore In India For Expanding Make In India Production Of Smartphones!


Rohit Kulkarni

Rohit Kulkarni

Dec 03, 2023


iPhone manufacturer Hon Hai Precision Industry Co, also known as Foxconn, intends to increase its presence in India by investing an additional NT$50 billion ($1.6 billion) in construction projects, as disclosed in a Taiwan stock exchange filing on November 27. The filing provided limited information, stating that the investment is for “operational needs,” and a company spokesperson refrained from specifying the location or the nature of the new facilities.

iPhone Maker Foxconn Will Invest Rs 13,000 Crore In India For Expanding Make In India Production Of Smartphones!

Taiwanese Electronics Manufacturers, Such as Foxconn, Expand Operations Beyond China Amidst U.S.-China Tensions

This move aligns with the broader trend of Taiwanese electronics manufacturers, including Foxconn, diversifying their operations beyond China amid escalating tensions between Washington and Beijing. Approximately half of Foxconn’s revenue is derived from its partnership with Apple Inc. The company has been manufacturing iPhones and other products in India for several years, including the latest iPhone 15. In September, a Foxconn representative in India announced on LinkedIn that the company aims to double its business size in the country.

Foxconn’s Multi-Million Dollar Investments in Indian Expansion: Unraveling Plans for Component Factories and Ambiguities in Latest NT$50 Billion Announcement

Earlier in August, the Karnataka government disclosed Foxconn’s plan to invest $600 million in two component factories in the southern Indian state. This included a plant for producing mechanical enclosures for iPhones and a semiconductor equipment manufacturing plant in collaboration with Applied Materials Inc. Additionally, there were reports of a $700 million facility that Foxconn intends to establish near the Bengaluru airport, likely focused on iPhone assembly.

The latest announcement of a NT$50 billion investment does not explicitly clarify whether it pertains to these existing projects or encompasses additional initiatives. Foxconn already operates nine production campuses and over 30 factories in India, generating approximately $10 billion in annual revenue and employing tens of thousands of individuals.


Rohit Kulkarni
Rohit Kulkarni
  • 719 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Technology
Sep. 8, 2022

Samsung Launches The Wall All-In-One and Flip Pro: Is This The Future Of Display Technology?

Samsung has launched The Wall All-In-One – the modular MicroLED it says is revolutionizing the future of display and the Flip Pro, which is an interactive display. Both were unveiled at the InfoComm India 2022 which is India’s Professional AudioVisual (Pro AV) and Systems Integration Technology Exhibition. This took place in Mumbai from September 5-7. […]

Technology
Jul. 28, 2022

Google Street View Launches In India Across These 10 Indians Cities! Plans To Expand To 700,000 Kms, 50 Cities In 2 Years

Google’s Street View is finally available in India a decade after it was prevented from capturing data for its Street View services. Second coming Street view offers a 360-degree interactive panorama feature initially for 10 Indian cities with data from local partners Tech Mahindra and Mumbai-based Genesis International. Its entry into India is facilitated by […]

Technology
Jul. 10, 2022

This Electricity-Free Cooler Developed By IIT Researchers Can Replace Air Conditioners! How It Work?

Indian Institute of Technology Guwahati researchers have built a ‘Radiative Cooler’ which does not require electricity to operate. This is an affordable and efficient ‘passive’ radiative cooling system that can serve as an alternative to ACs. The coating material is an electricity-free cooling system that can be applied in the rooftops and functions during both […]

Technology
Jun. 27, 2022

This New Battery Will Enable Electric Cars To Run 1000 Kms In Single Charge! Will This Transform Electric Mobility?

Chinese company Contemporary Amperex Technology Co Ltd (CATL) has developed a battery that gives EVs a driving range of over 1,000 km or 621 miles on a single charge. About the company The company is China’s leading automotive lithium-ion battery maker. Tesla, Volkswagen, BMW, and Nio are among the companies for which CATL supplies batteries. […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online