Foxconn, maker of Apple’s iPhones, invests US$1.6 billion in India expansion plan amid diversification from China
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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 on Monday, did not give any further details, saying only that the investment was for “operational needs”. A spokesman for the company declined to say where the new facilities would be or what they would build.
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India’s Karnataka state government in August announced that Foxconn planned to invest US$600 million on two component factories in the southwestern state. That included a plant that will make mechanical enclosures for iPhones and a semiconductor equipment manufacturing plant Foxconn will operate with Applied Materials, the government said at the time.
It was not immediately clear if the latest investment announcement is to cover those projects or additional ones.
Foxconn already operates nine production campuses and more than 30 factories employing tens of thousands of people in India, where it takes in around US$10 billion of revenue annually.
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