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Foxconn says it is the beginning of the Bharat era
Economic Times
·
1y ago
Medial
Foxconn, Apple's largest contract manufacturing company, has expressed its enthusiasm for the "beginning of the Bharat era" in India. The company's India representative, V Lee, posted on LinkedIn about their focus on electric vehicles (EVs) and semiconductors during the recently concluded Hon Hai Technology Day. Foxconn is exploring EV opportunities in several states, including Tamil Nadu, as per Lee's response to a post on LinkedIn. The company aims to establish a production line in India to cater to the two-wheeler EV market in Southeast Asia. Foxconn's annual report highlights their focus on EVs, digital health, and robotics. The company presently operates over 30 factories in India and is committed to furthering the ambition of fab manufacturing in the country.
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Foxconn’s Bharat FIH is facing turbulence due to top-level exits
Economic Times
·
1y ago
Medial
Foxconn subsidiary Bharat FIH has reportedly lost three independent directors in the past three months and is likely to close its manufacturing facility in Sri City, Andhra Pradesh. The potential closure is a result of a significant decrease in orders from its major client, Xiaomi. Bharat FIH's overreliance on Xiaomi has left the company vulnerable in the face of changing market conditions.
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Foxconn’s Bharat FIH looks beyond Xiaomi to offset slump
Economic Times
·
1y ago
Medial
Bharat FIH, a Foxconn group company in India, is seeking to diversify its operations as it faces a decline in orders from its main client, Xiaomi, due to a government crackdown on Chinese businesses. The company's sprawling campus near Chennai has focused on manufacturing Android phones but is now looking to enter segments such as telecom equipment, electric vehicles, televisions, and displays. Bharat FIH aims to leverage its success in smartphones to expand into these new areas. However, experts caution that diversification may take time as the market already has established players.
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PhonePe’s billion-dollar year: A war chest to fight super app wars
Inc42
·
1y ago
Medial
PhonePe, the Bengaluru-based fintech giant, is gearing up for a big year in 2024 as it aims to grow sustainably and show profits. The company has secured a significant amount of funding and launched various new products, positioning itself as a strong player in the super app battle. With a focus on lending, insurance, app development, digital commerce, and investment tech, PhonePe is poised for success. As it prepares for a potential IPO, PhonePe's deep pockets and strategic moves indicate that its era is just beginning.
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Foxconn says execs from Nvidia, Google, BMW will speak at its annual forum
Economic Times
·
10m ago
Medial
- Foxconn to host annual tech day forum next week, with executives from companies like Nvidia, Google, and BMW speaking. - Nvidia CEO Jensen Huang made an appearance last year to announce a partnership with Foxconn for building AI factories. - Executives will discuss topics such as artificial intelligence, electric vehicles, and digital health management. - Two new electric vehicle models will be unveiled at the event. - Foxconn aims to replicate its success in assembling electronics as it expands into making electric vehicles.
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Foxconn says it is building the world’s largest manufacturing facility for Nvidia’s GB200 | Mint
Livemint
·
10m ago
Medial
- Foxconn is constructing the largest manufacturing facility for Nvidia's GB200 chips. - The new facility is being built by Foxconn, according to Benjamin Ting, Foxconn's senior vice president. - The location of the facility is not disclosed at the moment. - Benjamin Ting made the announcement during Foxconn's annual tech day in Taipei. - The facility will be specifically dedicated to GB200 chip production.
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Taiwan's Foxconn says global manufacturing footprint to shield it from Trump's tariffs
Economic Times
·
8m ago
Medial
Taiwan's Foxconn, the world's largest contract electronics maker and a key supplier to Apple, believes it will be less impacted by new tariffs imposed by US President-elect Donald Trump compared to its competitors. Foxconn's global manufacturing footprint allows it to shift production locations, minimizing the impact of tariffs. While its facilities in China may face challenges, the company has been investing in other countries such as the United States, Mexico, and Vietnam to diversify its supply chain. Foxconn plans to reveal more details about its US expansion plans once Trump's policies become clearer.
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Taiwan's Foxconn says it can plan production around Trump tariffs
Economic Times
·
5m ago
Medial
Foxconn, the world's largest contract electronics manufacturer, is prepared to adjust its production in response to new U.S. tariffs, according to Chairman Young Liu. The company manufactures in both the U.S. and Mexico, allowing flexibility despite the 25% tariff imposed by President Trump. Liu emphasized that while Foxconn can manage the production shift, overall tariffs would negatively impact the global economy by reducing market size.
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Nissan considers Foxconn EV output to save Oppama from closure, Nikkei says
Economic Times
·
1m ago
Medial
Nissan Motor is discussing a collaboration with Taiwan's Foxconn to produce electric vehicles, potentially saving its Oppama plant in Japan from closure. This move comes amidst Nissan's restructuring plans, which may have targeted the Oppama plant, employing around 3,900 workers, for consolidation. By producing Foxconn-brand EVs, Nissan aims to preserve jobs and supplier networks, according to a report by the Nikkei business daily.
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How China's tech self-sufficiency came to rescue during Microsoft outage
Money Control
·
1y ago
Medial
A faulty software update from CrowdStrike caused widespread global disruptions, grounding flights, disrupting various services including hospitals, retailers, and media outlets. However, China, which has developed its own software solutions, remained largely unaffected as it reduced reliance on foreign service providers and developed local products for its major operations. China's largest cybersecurity firm, 360 Security Technology, claimed its products were more reliable. While airports in Beijing and Shanghai remained unaffected, international businesses operating in China with CrowdStrike reported operational issues. CrowdStrike, a cloud-era cybersecurity company, emphasized its use of AI and had 29,000 customers at the beginning of the year.
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Telangana, K’taka & Andhra Pradesh Offer Land To Woo Foxconn
Inc42
·
11m ago
Medial
The Telangana state government has offered Foxconn 2,000 acres of land, while the Andhra Pradesh government has offered 2,500 acres and Karnataka authorities have offered 300 acres. Foxconn is considering setting up facilities in these states as it looks to diversify its operations outside of China due to ongoing tensions between China and the US.
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