Foxconn unit looks to build facility in Tamil Nadu by next year
Foxconn unit, which sells components to the likes of Apple and Lenovo to garner about a third of the Taiwanese contract manufacturer's aggregate revenue, is looking to build an operational facility in Tamil Nadu by next year, multiple people aware of the discussions told ET. Foxconn's parent company Hon Hai Technology already has large existing facilities in Tamil Nadu and is looking to further ramp up these sites. For instance, it manufactures iPhones for Apple exclusively in a facility in Sriperumbudur near Chennai.
Apart from this, Foxconn's Indian entity, Bharat FIH, operates a separate facility that makes Xiaomi phones. FII's India foray would mean more of Foxconn's entities establishing a presence in India. Top officials from Foxconn Industrial Internet (FII), including its CEO Brand Cheng, met the Tamil Nadu Chief Minister MK Stalin Wednesday.
On Monday, the FII delegation was in Karnataka, and it was offered a 100-acre plot at the Japanese Industrial Park (JIP) in Tumakuru district, ET reported earlier. «FII is about a third of Foxconn's revenue, and one of their major subsidiaries,” a source aware of the developments told ET. “They told the TN government that they are looking at various types of components — mechanical components relating to the phones and that they're exploring the investment opportunity.
The chances look fairly bright.» FII officials could not immediately be reached for comment. FII is a subsidiary of Foxconn, the world's largest contract manufacturer for Apple. Foxconn recently decided to exit a proposed venture with Vedanta that would have brought chipmaking to India, potentially lowering New Delhi’s dependence on northeast Asian semiconductor supplies.
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