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Published 3 months ago

Apple 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.
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