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Towering ambitions: Foxconn's expanding footprint in India
Economic Times
·
8m ago
Medial
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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Foxconn Chairman Young Liu receives Padma Bhushan; to visit India this year
Economic Times
·
1y ago
Medial
Foxconn Chairman Young Liu, awarded the Padma Bhushan, expressed his intention to visit India this year. This comes amid ongoing allegations of discrimination at Foxconn's factories in Sriperumbudur. The award highlights the government's recognition of Foxconn's presence and growth in India. The company is expanding its iPhone production facility, setting up a chip plant in a joint venture with HCL Group, and contemplating AI server manufacturing. Additionally, reports suggest Foxconn will work on Google Pixel phones in India.
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AI demand expected to boost electronics giant Foxconn's second-quarter profit - The Economic Times
Economic Times
·
17d ago
Medial
Taiwan's Foxconn, the world's largest contract electronics maker, is expected to report an 11% rise in second-quarter profits due to strong demand for AI servers. Foxconn's expansion into electric vehicles and data centers marks a shift beyond its traditional role as an iPhone assembler. Despite geopolitical challenges, including trade tensions and exchange rate impacts, Foxconn's shares rose by 7.9% in 2023, with the company focusing on broadening its manufacturing footprint globally.
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Can India’s big smartphone economy grow without China?
Livemint
·
1m ago
Medial
India's smartphone industry is questioning its potential growth without China's involvement, especially after Foxconn's recent withdrawal. Despite aspirations for self-reliance, experts highlight China's critical role in the electronics supply chain, providing essential components like semiconductors and manufacturing machinery. While India's smartphone economy may not struggle for survival, its growth is uncertain without China's support, underscoring the intertwined relationship between India's ambitions and China's technological dominance.
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Foxconn sells former GM factory to mystery buyer after failing to make EVs | TechCrunch
TechCrunch
·
26d ago
Medial
Foxconn sold its former GM factory after failing to establish large-scale EV production, marking another setback in its U.S. manufacturing ambitions. The buyer, an entity named Crescent Dune LLC, remains largely undisclosed. Foxconn, initially aiming to turn the plant into a significant EV hub, faced multiple bankruptcies from partners like Lordstown Motors and others. The factory may now focus on AI server production, highlighting a shift in Foxconn's manufacturing focus.
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Dorminator: Foxconn Preps for iPhone Army
Economic Times
·
3m ago
Medial
Foxconn is accelerating its manufacturing plans in India, focusing on Apple's iPhone production despite US President Trump's preference for US-based manufacturing. The company's sprawling Devanahalli campus in Karnataka is expanding rapidly with a $2.56 billion investment, planning to house 30,000 workers. Assembly targets include 100,000 iPhones by December. Foxconn's strategy is part of a broader China+1 initiative, aiming to diversify production, with women workers receiving housing preference due to their significant workforce contribution.
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Juspay’s Lalwani on customer acquisition, global expansion, and more
VCCircle
·
3m ago
Medial
Juspay Technologies, led by co-founder and COO Sheetal Lalwani, is focusing on international expansion to drive growth while maintaining its strong base in India. The payment infrastructure company recently raised $60 million in a Series D funding round to support its global market ambitions. Lalwani emphasizes the potential benefits of expanding internationally while continuing to capitalize on India as a core growth engine, aiming to enhance Juspay's market presence worldwide.
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Taiwan-based Foxconn proposes to invest additional $400 million in Telangana
IndianStartupNews
·
2y ago
Medial
Foxconn, the multinational electronics manufacturer, has expressed its intention to invest an additional $400 million in the Indian state of Telangana. This proposed investment is part of Foxconn's commitment to expanding its manufacturing operations in the region. The investment is expected to boost the local economy, create job opportunities, and contribute to the growth of the electronics manufacturing sector.
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Optimal time to open, grow hospitality brands in India: ITC Hotels MD
Economic Times
·
28d ago
Medial
Anil Chadha, MD of ITC Hotels, describes the current period as optimal for expanding hospitality brands in India due to strong investor interest and changing customer needs. As ITC Hotels embarks on expanding its footprint domestically and overseas, Chadha noted the company's improved operational metrics, including occupancy rates. The demerger of ITC's hotel business has also facilitated exploring new ventures, including branded residences. ITC Hotels maintains a strong balance sheet, supporting both organic and inorganic growth.
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Taiwan's Foxconn says global manufacturing footprint to shield it from Trump's tariffs
Economic Times
·
9m 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 plans $1 billion display assembly unit in Tamil Nadu
Economic Times
·
11m ago
Medial
Taiwanese contract manufacturer Foxconn is considering investing $1 billion to establish a smartphone display module assembly unit in Tamil Nadu, India. While primarily aimed at serving Apple for iPhone production, the unit could also be used by other contract manufacturers like Pegatron or Tata Electronics. As India heavily relies on imports for display modules, Foxconn's facility could help reduce costs and supply chain complexities. India currently sources 60-65% of its display module imports from China. Foxconn's establishment of a local assembly operation could shorten lead times and costs for brands.
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