Hon Hai plans to invest $600 million in India to build factories for manufacturing iPhone components
Hon Hai plans to invest $600 million in India for iPhone component factories
【Phoneauto News】Earlier, there were reports that Apple’s major supplier, Foxconn (also known as Hon Hai), plans to invest nearly $600 million to establish two component factories in India to maintain supply chain diversification. At least one of them is expected to produce components for iPhones and other Apple products, and is expected to be officially announced as early as this week. On August 3rd, Phoneauto learned from the government of Karnataka, India, that Hon Hai has signed an intent letter to invest $350 million to establish a factory for producing iPhone mechanical casings. The company also plans to invest $250 million to cooperate with Applied Materials in building a semiconductor equipment manufacturing plant. These two projects are expected to create about 13,000 job opportunities.
Hon Hai Group
In addition, in June, the government of Karnataka province in southern India announced that Hon Hai plans to invest 130 billion rupees (approximately RMB 11.3 billion) by April 2024 to produce iPhones in Devanahalli, a suburb of Bengaluru, with a planned annual capacity of 20 million units.
Sources said that as of March 2023, Apple has assembled iPhones in India worth more than $7 billion, of which iPhones worth over $5 billion were exported, nearly four times that of the previous year. Apple may attempt to simultaneously produce the next generation of iPhones in India and mainland China, possibly in the autumn of this year. This will be the first time that Apple iPhones are assembled simultaneously in both China and India. If suppliers continue to expand actively, by 2025, one-quarter of iPhones may be assembled in India for Apple. Hon Hai, as the largest iPhone assembly plant in India, will benefit the most from this.
- Huawei Enjoy 60 series has a limited-time discount of up to 300 yuan, starting from 1399 yuan for a secure and smooth experience
- This mobile phone is specially designed for blind and visually impaired individuals and is equipped with wireless charging capability
- Huawei HarmonyOS 4 will be released tomorrow The live stream summary will be posted here What are the highlights?
It is worth noting that Hon Hai’s rival, Luxshare, recently stated at a shareholders’ meeting that its overseas production capacity layout is mainly focused on Vietnam, and it is still actively exploring the Indian market, but with cautious investment.
- DJI releases the new generation flagship action camera, Osmo Action 4, with excellent image quality
- Chip revenue and profit plummet, Qualcomm to conduct layoffs to cut costs
- OnePlus is preparing to do something that has never been done in the industry, which seems to involve the chip field
- The mobile game Ni Shui Han admits to earning too much money and thus begins to refund money to players
- The Chuan Yin GT 10 Pro has been officially released, featuring a 100 million pixel camera and a stylish back cover design
- Latest Android phone ratings announced, Xiaomi phones fail to make top three?
- Profit Plummets by 52%! Qualcomm Releases Latest Financial Report Quarterly Revenue of 604 Billion