March 30, 2023

Great Indian Mutiny

Complete IndianNews World

Foxconn plans to invest 700 million in a new factory in India

Until last year, not many thought it was Apple, but another contract company, specifically Taiwan’s Foxconn, that made the iPhone. But problems at its factory in Zhengzhou led to iPhones being weeks and months late for Christmas around the world.

The Taiwanese company is not looking for other contractors to assemble its smartphones to avoid a repeat of the situation, which has already affected Apple’s financial results. It has gradually started the expensive process of manufacturing it out of ChinaToday most of the place takes place.

Now, Foxconn reads A 700 million dollar investment A construction purpose New factory to manufacture iPhones in IndiaAccording to sources familiar with the plans Bloomberg.

The Taiwanese company plans to locate the facilities in one location 121 hectares of land It is located next to the airport of the Indian city of Bengaluru, the capital of the state of Karnataka in the south of the Asian country.

iPhone maker pays workers €1,700 to sleep in ‘iPhone City’: Foxconn’s plan to avoid unit shortages at Christmas

The focus will be on the new Foxconn plant Manufacturing of components for the iPhoneIt may be dedicated to part of the assembly of the smartphones, which currently takes place 100% from the Chinese plant in Zhengzhou for the Pro models, although the standard iPhone 14 and Plus have other suppliers that assemble them.

Another possibility, though less likely, is that the new plant could be used to support its electric futures business, which has been in the making for years.

See also  Unbelievable: Indian Cricket League earns more money than Premier League - Ovation - 06/18/2022

The situation comes after a turbulent period for Foxconn, although the company was already able to get its Zhengzhou factory back on track in early January. To recover 90% of production It was able to renew its staff after the outbreak of COVID-19.

Decisions like opening its factory in India are actually part of a process in which big US tech companies are starting to encourage companies to move production outside of China to other countries like India, Vietnam or Southeast Asia.