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Foxconn pumps $1.48 billion into Tamil Nadu arm amid Apple’s India push
YourStory
·
2m ago
Medial
Foxconn invested $1.48 billion in its Tamil Nadu unit, Yuzhan Technology (India) Private Limited, through its Singapore arm. This substantial investment aligns with Apple's strategy to increase iPhone production in India, as the company plans to source most iPhones sold in the US from India. Foxconn's revenue in India more than doubled to over $20 billion in the financial year 2024-25 due to higher iPhone production, contributing significantly to India's record mobile phone export figures.
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Tamil Nadu cabinet approves Foxconn's Rs 13,180-crore display module assembly unit
Economic Times
·
10m ago
Medial
- Tamil Nadu cabinet approves Rs 13,180 crore investment by Yuzhan Technology (India), a unit of Foxconn, generating 14,000 jobs. - Foxconn considering Rs 1,000 crore investment to set up smartphone display module assembly unit in Tamil Nadu for Apple. - Foxconn acquires 500,000 square feet facility near Chennai for manufacturing smartphone modules, encouraging other contract manufacturers to use its components. - Foxconn's investment is the largest among 14 projects approved by the Tamil Nadu Cabinet, with a cumulative investment of Rs 38,698.80 crore. - Tata Motors to invest Rs 9,000 crore in manufacturing Jaguar Land Rover vehicles in Ranipet. - Other investments approved include Leap Green Energy Pvt Ltd (Rs 10,375 crore), Freetrend Industrial India (Rs 1,000 crore), Kaynes Circuits India (Rs 1,395 crore), Ascent Circuits (Rs 613.6 crore), and Lucas TVS (Rs 510 crore).
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Apple Begins Training Workers To Produce iPhone Pro Models In India
Inc42
·
12m ago
Medial
Apple assembled $14 billion worth of iPhones in India in FY24, accounting for 14% of its global iPhone production. Foxconn will start assembling the iPhone 16 Pro and Pro Max models in its Tamil Nadu factory shortly after the global launch. This marks the first time that Apple's premium Pro and Pro Max models will be assembled in India through its partnership with Foxconn.
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Apple's India iPhone output hits $14 billion: report
Economic Times
·
1y ago
Medial
Apple Inc has reportedly manufactured $14 billion worth of iPhones in India during fiscal 2024, accounting for around 14% of its flagship devices. Manufacturing companies such as Foxconn, Pegatron Corp, and Wistron Corp have contributed to this production. This move by Apple indicates a shift in its supply chain strategy to reduce dependence on China amid ongoing geopolitical tensions. Pegatron is also in talks to give control of its iPhone manufacturing facility in Tamil Nadu to the Tata Group.
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'Negligible impact': Apple analyst Kuo sees no upheaval from Foxconn recalling Chinese staff - The Economic Times
Economic Times
·
1m ago
Medial
Apple analyst Ming-Chi Kuo reports that Foxconn's recent removal of Chinese employees from its India iPhone plant will have minimal impact. Foxconn is increasing its iPhone production in India, having invested $2.56 billion in the Devanahalli plant, aiming to produce 100,000 iPhones by December. Foxconn is also setting up a new unit in Tamil Nadu for iPhone enclosures. The company's expansion in India continues despite U.S. tariff threats over iPhone production.
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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 has invested $1.4 billion in Indian business; over $10 billion business size in 2024
Livemint
·
12m ago
Medial
Hon Hai Precision Industry, or Foxconn, has seen growth of over $10 billion in its India business until the end of the financial year in 2024. The company has invested $1.4 billion in India so far and is planning to continue expanding. Chairman Young Liu expressed his belief in India's rising potential and stated that Foxconn wants to be a part of its growth. The company has also built a women-only residential complex near its plant in Tamil Nadu, highlighting its commitment to gender diversity in its workforce. In addition, Foxconn is working on plans to establish a battery energy storage system unit in India, focusing on electric vehicles.
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IndoSpace to dial up investment in Tamil Nadu to meet warehouse demand
VCCircle
·
10m ago
Medial
- IndoSpace plans to increase investment in Tamil Nadu by 41% in the next three years to meet the rising demand for industrial parks. - The demand for warehouse developers has surged as companies aim to diversify supply chains and capitalize on India's economic growth. - The Indian warehousing market is projected to double to $37 billion by 2032. - IndoSpace has already invested $380 million in Tamil Nadu and aims to raise the investment to $536 million. - The company expects to create over 8,000 new jobs in addition to the 15,000 jobs already planned through a previous partnership with the Tamil Nadu government. - Tamil Nadu is a preferred manufacturing destination for global companies such as Foxconn, Samsung, and Tata Motors' Jaguar Land Rover.
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Foxconn iPadding up to assemble in India
Economic Times
·
1y ago
Medial
Foxconn is reportedly considering assembling Apple's iPad in India, expanding its operations beyond iPhone production. The Taiwanese contract manufacturer is said to be in discussions with the Indian government and may start assembling iPads at its facility in Tamil Nadu. This move aligns with Apple's diversification strategy away from China and aims to tap into the growing supply chain in India. Industry experts believe that iPad production in India is feasible since the necessary capabilities are similar to smartphone assembly. Foxconn may take advantage of India's production-linked incentives and potentially target the domestic market.
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Foxconn aims to double jobs, investment in India over next 12 months
Economic Times
·
1y ago
Medial
Foxconn, the Taiwanese contract manufacturer known for producing iPhones, aims to double its workforce and investment in India by next year. V Lee, the company's India representative, expressed this goal while wishing Prime Minister Narendra Modi a happy birthday. Foxconn has a significant presence in Tamil Nadu with over 40,000 employees and is also exploring opportunities in the electric vehicle sector across multiple Indian states. Specific details were not disclosed.
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Foxconn, Pegatron halt Indian iPhone production due to extreme weather
Reuters
·
1y ago
Medial
Foxconn and Pegatron have suspended production of iPhones at their factories in Chennai, India due to heavy rains caused by Cyclone Michaung. Foxconn, employing 35,000 people at its Tamil Nadu factory, is yet to decide on resuming production. This is the second time Pegatron has faced a production halt after a fire in September. Apple had its highest ever quarterly shipments from India in September, reaching over 2.5 million units.
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