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iPhone maker Foxconn plans to expand footprint in India with $1.6 bn investment
Livemint
·
1y ago
Medial
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.
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Foxconn plans to invest ₹424 crore in semiconductor JV with HCL | Mint
Livemint
·
10m 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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Chinese techies return not to impact iPhone 17 production, Apple's ramp-up plan intact: Sources - The Economic Times
Economic Times
·
1m ago
Medial
The return of Chinese professionals from Apple's Indian vendor Foxconn is not expected to impact iPhone 17 production, as Apple remains on track to expand production in India. Supported by easing capital goods imports and capacity expansion through Foxconn and Tata, Apple aims to significantly increase iPhone production. Indian-made iPhones now dominate US shipments, with plans to further ramp up production to meet demand. Apple's Indian manufacturing ecosystem is a significant job creator.
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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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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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Foxconn looks to set up new Tamil Nadu unit to make iPhone enclosures
Economic Times
·
1m ago
Medial
Foxconn plans to manufacture iPhone enclosures in India by setting up a new unit in Tamil Nadu's ESR Industrial Park, marking its entry into local enclosure production. The move aligns with Apple's strategy to diversify its supply chain and increase its manufacturing presence in India. Foxconn aims to boost production capabilities and geographic presence, with plans for new facilities in Bengaluru and Hyderabad. This expansion supports Apple's vision of making India a key manufacturing hub.
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Foxconn buys equipment worth Rs 267 crore for India factory to locally make iPhone 16 Pro series
Economic Times
·
9m ago
Medial
Taiwanese electronics manufacturer Foxconn has purchased equipment worth $31.8 million for its factory in India, signaling its preparation to manufacture the iPhone 16 Pro series in the country. This marks the first time that Apple's high-end iPhone Pro series will be manufactured outside of China. Foxconn's subsidiary, Foxconn Hon Hai Technology India Mega Development Private Limited, acquired the machinery equipment from Apple Operations Limited. The procurement is aimed at increasing production capacity at Foxconn's Tamil Nadu unit for the manufacturing of the iPhone 16 Pro series. Apple plans to release the "Made in India" iPhone models later this month or early November.
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Apple Investment Plans in India Intact, Proposes India to be Major Manufacturing Base: Source
OutlookIndia
·
2m ago
Medial
Apple plans to maintain India as a key manufacturing hub, despite remarks from U.S. President Trump favoring increased production in the U.S. Apple executives assured Indian officials that their investment strategies remain unchanged. Foxconn, a major Apple supplier, has commenced manufacturing Apple AirPods in Telangana for export, demonstrating ongoing commitment. India contributes significantly to global iPhone manufacturing, with 15% of output, and supports a large job market through Apple's ecosystem.
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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's Bold Move Doubling iPhone Production in India to Embrace a Growing Manufacturing Hub
Business Bytes
·
1y ago
Medial
Apple plans to double its iPhone production in India by 2024, according to analyst Ming-Chi Kuo. India has been actively attracting tech manufacturing investments, offering incentives and reducing barriers. Foxconn, a key manufacturing partner, holds a significant share of iPhone production capacity in India, allowing for diversification and reduced dependency on China. Luxshare, a supplier initially focused on iPhone cables, is expanding its iPhone production in India. Apple's move aligns with India's "Make in India" initiative and demonstrates its commitment to tapping into the Indian market's potential and leveraging India's growing manufacturing reputation.
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Apple supplier Foxconn cuts outlook due to tariff uncertainty
Economic Times
·
2m ago
Medial
Taiwan's Foxconn, the world's largest contract electronics maker and Apple's top iPhone assembler, has downgraded its full-year outlook due to uncertainties around U.S. tariffs. Despite booming demand for AI servers, which benefit Foxconn through partnerships with Nvidia and others, the company remains wary of policy changes affecting its large manufacturing operations in China and Mexico. Chairman Young Liu emphasized a cautious approach amid shifting tariff policies, exchange rate fluctuations, and pending trade agreements.
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