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iPhone assembler Foxconn to invest ₹1,200 crore to set up factory in India

9 Feb 2024

Foxconn is a major supplier to Apple. The setting up of its factory offers crucial support to Apple’s iPhone manufacturing plans in India.

Taiwan-based Foxconn Technology announced an investment of ₹1,200 crore to set up another factory in India for its operational needs. Foxconn is the main assembler for Apple’s iPhones and is among the world’s largest contract electronic manufacturers.

After Apple’s CEO Tim Cook meeting with Prime Minister Narendra Modi in April 2023, Foxconn announced its first investment of $500 million to set up a factory in Telangana. In November 2023, it announced the second $600 million investment in two projects in Karnataka, including a phone casing component plant and a semiconductor manufacturing facility. These investments were made through Foxconn’s subsidiary, Hon Hai Technology India Mega Development.

Last month, Foxconn announced a partnership with HCL Group to build a $37.2 million chip packaging and testing facility in India.

Apple started manufacturing older and lower-budget iPhones in India in 2017. It started scaling up due to tensions between the US and China.

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