Foxconn, maker of Apple’s iPhones, invests US$1.6 billion in India expansion plan amid diversification from China
iPhone maker Hon Hai Precision Industry plans to expand its footprint in India with another NT$50 billion (US$1.6 billion) investment for construction projects.
The announcement, made in an exchange filing in Taiwan late Monday, did not 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.
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Apple supplier Foxconn to build ‘AI factories’ using US hardware leader Nvidia’s chips and software
India’s Karnataka state government in August announced that Foxconn planned to invest US$600 million on two component factories in the southern Indian state. That included a plant that will make mechanical enclosures for iPhones and a semiconductor equipment manufacturing plant it will operate with Applied Materials, the government said at the time.