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HomeBusinessFoxconn is Increasing Its Investment in India by $500 million.

Foxconn is Increasing Its Investment in India by $500 million.

Last week, The Wall Street Journal reported that Apple was preparing more aggressive measures to divert its whole supply chain away from China and into nations like Vietnam and India. Apple issued a warning last month that the continuous disruptions to Foxconn’s iPhone production facilities in China will severely limit the supply of iPhone 14 Pro models.

The fact that Foxconn already had a manufacturing facility in India allowed them to continue producing at least some iPhones. The corporation has already stated its intention to treble its Indian staff eventually.

According to Techcrunch, Foxconn is now expanding its processor manufacturing operations in India with a new $500 million investment.

A document with the Taiwan Stock Exchange on December 8, 2022, lists the investment. According to reports, Foxconn will use the money to expand Hon Hai Technology India Mega Development Private Limited.

Additionally, Apple has promised to offer 5G to iPhone owners throughout the nation. Besides thinking about shifting some iPad manufacturing to India.

Analysts believe that by 2025, a quarter of all iPhone production may be carried out in India thanks to Apple and Foxconn’s efforts.

Recently, lockdowns were implemented at Foxconn’s primary iPhone manufacturing facility close to the Chinese city of Zhengzhou as part of the strict COVID regulations. Due to conditions, there have also been instances of workers rioting or fleeing the business.


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