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Foxconn Subsidiary Rayprus Looks To Venture Into India
Inc42
·
1y ago
Medial
Foxconn subsidiary Rayprus Technologies is planning to enter the Indian market with a manufacturing facility in Bengaluru. This move aligns with Foxconn's expansion efforts in India and Apple's strategy of diversifying its supply chain beyond China. Apple has been shifting some of its production out of China due to geopolitical tensions, and its suppliers like Foxconn and Pegatron already have significant operations in India. Rayprus' entry into the Indian market comes as Apple supplier Corning Inc is also building a manufacturing unit in Tamil Nadu. Apple India is expected to exceed INR 70,000 Cr in revenue by the end of the current fiscal year.
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Related News
Apple supplier Rayprus eyeing Bengaluru facility
Economic Times
·
1y ago
Medial
Rayprus Technologies, a supplier for Apple, is planning to set up a manufacturing facility in India. The Foxconn subsidiary, known for producing precision camera and lens solutions, is in talks with Foxconn to establish the facility within the new Foxconn campus in Bengaluru. This move follows Corning's announcement of setting up a manufacturing unit in Tamil Nadu for gorilla glass production, indicating that more pieces of Apple's India story are falling into place. The addition of leading component players in the Indian supply chain strengthens Apple's diversification strategy.
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Foxconn infuses Rs 1,200 crore in Karnataka unit
Economic Times
·
10m ago
Medial
Foxconn has invested Rs 1,200 crore (USD 144 million) into its Karnataka-based subsidiary, Foxconn Hon Hai Technology India Mega Development Pvt Ltd. The investment was made through Foxconn's Singapore-based arm, which purchased over 120.35 crore stocks of the Indian subsidiary. Foxconn is also planning to invest Rs 25,000 crore to establish a large manufacturing plant in Karnataka, creating 40,000 jobs. This plant will become the second-largest Foxconn facility after its unit in China. So far, Foxconn Singapore has invested over Rs 13,800 crore in the Karnataka unit.
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Google to export India-made Pixel smartphones to Europe, US; trial production begins
Money Control
·
1y ago
Medial
Google is reportedly planning to establish India as an export hub for its Pixel smartphones, targeting markets in Europe and the United States. The company aims to start commercial production in India through Foxconn and Dixon subsidiary Padget Electronics, with trial production already underway in Tamil Nadu. The base variant of the Pixel phones will be manufactured by Dixon Technologies, while Foxconn will handle the Pro variants. The move comes as Google looks to diversify its manufacturing operations and take advantage of India's low labor costs and the government's production-linked incentive program.
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Foxconn plans to invest ₹424 crore in semiconductor JV with HCL | Mint
Livemint
·
9m ago
Medial
- Foxconn plans to invest up to ₹424 crore in a semiconductor joint venture (JV) with HCL Group. - The iPhone manufacturer purchased a 40% stake in the JV for nearly ₹312 crore. - The investment will be used for the Foxconn-HCL OSAT plant to be set up in India. - Foxconn has invested ₹246 crore in the JV through its subsidiary Big Innovation Holdings. - The company has invested more than $1.4 billion in India and employs over 48,000 people in the country. - Foxconn is manufacturing Apple iPhones in India and has plans to set up an EV and battery plant in the country.
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Foxconn Singapore unit acquires 1.2 billion shares of India subsidiary to aid expansion
Economic Times
·
10m ago
Medial
Foxconn Singapore has acquired 1.203 billion shares of its Indian subsidiary, Foxconn Hon Hai Technology India Mega Development, for around $144 million. The move is seen as an effort to boost the capital of the Indian subsidiary and expand Foxconn's presence in India. Foxconn's chairman, Young Liu, recently expressed the company's intention to move beyond smartphones and focus on sectors like information and communication technology (ICT), electric vehicles (EV), energy, and digital health. Additionally, Foxconn announced investments in the US, Mexico, and Europe, reflecting its global expansion strategy.
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Foxconn invests Rs 461 crore in Bengaluru unit
Economic Times
·
1y ago
Medial
Electronics manufacturer Foxconn has invested $55.29 million (Rs 461 crore) in its Bengaluru-based subsidiary, Foxconn Precision Engineering Private Limited. The investment was made through its Singapore-based subsidiary, Foxconn Singapore. Foxconn Precision Engineering was established six months ago and the company has also proposed setting up a supplementary plant at the Devanahalli Information Technology Investment Region in Karnataka. The investment is expected to create employment opportunities for around 50,000 people in the first phase at Devanahalli.
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Foxconn teams up with HCL Group to start chip packaging in India
Economic Times
·
1y ago
Medial
Foxconn and HCL Group are joining forces to establish an outsourced assembly and testing unit (OSAT) for semiconductor chips in India. Foxconn will hold a 40% stake in the partnership and invest around $37.2 million, while HCL will hold the remaining stake. This move aligns with HCL Group's plans to venture into chip assembly, leveraging its strong engineering and manufacturing background. An OSAT unit provides third-party chip packaging and testing services to semiconductor fabrication units.
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Telangana, K’taka & Andhra Pradesh Offer Land To Woo Foxconn
Inc42
·
10m 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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How China's talent recall could test India's electronics future
Livemint
·
7d ago
Medial
Foxconn is recalling key Chinese tech executives from its Indian operations, potentially impacting Apple's iPhone production expansion in India. This move could hinder India's ability to scale its assembly lines independently of Chinese expertise. While the withdrawal primarily affects Rising Stars Hi-Tech, a Foxconn subsidiary, it raises concerns about India's capability to increase high-end smartphone production without relying on China-based partners. The situation highlights the complexities of expanding tech manufacturing in India.
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Now, Apple Supplier Foxconn Plans Making AI Servers In India
Inc42
·
1y ago
Medial
Foxconn is planning to use its existing manufacturing facilities in Tamil Nadu to produce AI servers in India, according to a report by ET. The company, known for building AI servers for tech giants like Amazon, Google, Microsoft, and Nvidia, is likely to expand its operations to the country. This move aligns with Apple supplier and Foxconn subsidiary Rayprus Technologies' plans to enter the Indian market by establishing a facility in Bengaluru.
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