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Foxconn feels the China squeeze in India - The Economic Times

Economic Times

Economic Times · 1m ago

Foxconn feels the China squeeze in India - The Economic Times

Foxconn's recall of over 300 Chinese engineers from Indian iPhone manufacturing plants, possibly prompted by Beijing, may disrupt short-term operations and affect the broader electronics manufacturing ecosystem. Indian firms are concerned about potential Chinese machinery access restrictions, which could hinder expansion, particularly affecting smaller companies reliant on affordable Chinese equipment. Despite potential challenges, experts believe major firms like Foxconn likely anticipated such geopolitical risks, and there may be opportunities for Indian firms to step up.

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Warehouse developers bet on India as companies look beyond China

VCCircle

VCCircle · 1y ago

Warehouse developers bet on India as companies look beyond China

India is attracting developers and companies diversifying their supply chains away from China, as land becomes scarce in an industrial park in southern India. Greenbase industrial park, near factories operated by Daimler and Foxconn, is seeing a surge in inquiries for leasing space, with at least three clients looking to relocate from China. To meet demand, Greenbase plans to invest $800m to quadruple its industrial park space. The rush for leased warehouse space in India is driven by the country's economic growth, as it outpaces advanced nations.

iPhone maker Foxconn plans to expand footprint in India with $1.6 bn investment

Livemint

Livemint · 1y ago

iPhone maker Foxconn plans to expand footprint in India with $1.6 bn investment

iPhone manufacturer Hon Hai Precision Industry Co., also known as Foxconn, has announced plans to invest $1.6 billion in new construction projects in India, as part of its expansion in the country. The details of the investment and the specific location and nature of the facilities have not been disclosed. This move comes as Taiwanese electronics manufacturers, including Foxconn, seek to diversify their businesses outside of China due to rising tensions between the US and China. Foxconn already operates numerous production campuses and factories in India, generating around $10 billion in revenue annually.

Foxconn recalls Chinese staff from India, disrupting Apple’s iPhone 17 plans - The Economic Times

Economic Times

Economic Times · 1m ago

Foxconn recalls Chinese staff from India, disrupting Apple’s iPhone 17 plans - The Economic Times

Foxconn has recalled over 300 Chinese engineers and technicians from its iPhone assembly plants in India, creating potential operational challenges for Apple as it prepares for iPhone 17 production. The reasons behind this recall remain unclear amidst ongoing U.S.-China trade tensions. Foxconn's investments in India, including a major plant in Devanahalli, aim to increase local iPhone production, but talent shortages may delay these plans. Apple is targeting significant production increases in India by late 2026.

Foxconn chairman Young Liu receives Padma Bhushan; calls it 'affirmation of collaboration' with India

Economic Times

Economic Times · 1y ago

Foxconn chairman Young Liu receives Padma Bhushan; calls it 'affirmation of collaboration' with India

Foxconn Chairman Young Liu has been honored with the Padma Bhushan award by the Indian government, which he sees as a testament to the collaboration between Foxconn and India. Liu expressed his gratitude for the recognition and stated that it further strengthens their commitment to contributing to India's economic development and promoting the country's emerging technology ecosystem. Foxconn has been actively involved in various initiatives in India, including manufacturing facilities and investment partnerships.

Foxconn infuses Rs 1,200 crore in Karnataka unit

Economic Times

Economic Times · 11m ago

Foxconn infuses Rs 1,200 crore in Karnataka unit

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.

ETtech Explainer: Inside India's iPhone dreams — The story so far

Economic Times

Economic Times · 3m ago

ETtech Explainer: Inside India's iPhone dreams — The story so far

Apple is pivoting iPhone production towards India amidst U.S.-China trade tensions and tariffs, which complicate plans to move manufacturing from China. Although Foxconn and Tata Electronics are expanding in India under the PLI scheme, China still dominates Apple's production. The U.S. push for domestic production faces cost issues, with American-assembled iPhones being significantly more expensive. Apple's shift to India is contingent on evolving trade agreements and navigating delays from China regarding production equipment.

Why Taiwan's Foxconn, an iPhone supplier, is investing in Texas and Thailand

Economic Times

Economic Times · 7m ago

Why Taiwan's Foxconn, an iPhone supplier, is investing in Texas and Thailand

Taiwanese electronics manufacturer Foxconn is expanding its operations outside of China by investing millions of dollars in factories and land in countries like India, Mexico, and Thailand. This move is aimed at reducing their dependence on China and preparing for potential tariffs imposed by President-elect Donald Trump. Foxconn's global expansion would help insulate the company from the impact of these tariffs. However, replicating its manufacturing model outside of China could prove challenging, as the country has provided years of government-backed infrastructure investment. Additionally, Foxconn has a history of making investment promises that don't materialize in some instances.

Foxconn Subsidiary Rayprus Looks To Venture Into India

Inc42 · 1y ago

Foxconn Subsidiary Rayprus Looks To Venture Into India

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.

How China's talent recall could test India's electronics future

Livemint

Livemint · 1m ago

How China's talent recall could test India's electronics future

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.

Towering ambitions: Foxconn's expanding footprint in India

Economic Times

Economic Times · 7m ago

Towering ambitions: Foxconn's expanding footprint in India

Foxconn, the world's largest contract manufacturer, is rapidly expanding in India, shifting from traditional electronics to diverse sectors like electric vehicles, digital health, and semiconductors. Driven by Apple's strategy to lessen dependency on China, Foxconn invests significantly in Indian facilities, including those producing iPhones and AirPods, and plans for a chip facility. This growth aligns with India's 'Make in India' initiative, boosting local production and Foxconn's transformation into a comprehensive tech solution provider.

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