iPhone maker Foxconn plans to expand footprint in India with $1.6 billion investment
diversify their businesses outside of China as tensions rise between Washington and Beijing. Also Read: 'Season of hot sales': Apple supplier Foxconn logs surprise jump in Q3 profit. Details here About half of Foxconn’s revenue comes from business with Apple Inc.
The company has been making iPhones and other products in India for several years, including the latest iPhone 15. In September, a Foxconn representative in India said on LinkedIn that the Taiwanese company plans to double the size of its business in the South Asian country. India’s Karnataka state government in August announced that Foxconn planned to invest $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 Inc, the government said at the time. Watch: Foxconn To Setup An EV Factory In T.N.; Big Boost To Make In India Those two projects are on top of a $700 million facility Foxconn aims to build on a 300-acre (121 hectares) site close to the airport in Bengaluru, the capital of Karnataka, Bloomberg News previously reported. That plant is likely to assemble iPhones.
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