US EditionApple iPhone maker Foxconn to invest $1.5 billion in India as it looks to build beyond China
- Foxconn Technology's subsidiary, Hon Hai Technology India Mega Development, will invest over $1.5 billion in an Indian construction project to fulfill operational needs.
- The investment comes after Foxconn pulled out of a $19.5 billion chipmaking joint venture in India, remaining confident about India's semiconductor industry ambitions.
- Foxconn's factories in China, vital to Apple's iPhone production, were affected by Covid-19 lockdowns, urging suppliers like Foxconn to reassess their concentrated presence in China.
17 Articles
17 Articles
Foxconn plans to invest 1.54 billion dollars in India, the latest step in its growing expansion plan, following an increase in revenues in the South Asian market...
The largest private employer in China, the Taiwanese company is diversifying its production because of health restrictions against Covid and diplomatic tensions between Beijing and Washington.
iPhone Maker Foxconn Plans $1.6 Billion Investment In India
IPhone maker Hon Hai Precision Industry Co. plans to expand its footprint in India with another NT$50 billion ($1.6 billion) investment for construction projects. The announcement, made in an exchange filing in Taiwan late Monday, didn't give any further details, saying only that the investment was for "operational needs." A spokesperson for the company declined to say where the new facilities would be or what they would build. The news comes as…
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