Still going to India? Foxconn will invest 35 billion yuan to build an Apple component supply factory in India
Yes, Foxconn will invest 35 billion yuan to build an Apple component supply factory in India
【Phoneauto News】On August 1st, Phoneauto noticed that according to a report from Bloomberg, Apple’s main supplier, Foxconn, plans to invest nearly 500 million US dollars (about 3.5 billion RMB) in establishing two component factories in India to maintain supply chain diversification. Informed sources revealed that at least one of the factories to be built in the state of Karnataka by Foxconn will produce components for iPhones and other Apple products, and it is expected to be officially announced as early as this week.
Previously, in April 2023, there were reports that Foxconn had received production orders for Apple’s true wireless earbuds, AirPods. Due to Apple’s requirements, Foxconn plans to invest over 200 million US dollars in building an AirPods assembly plant in the southern state of Telangana, India. The construction of the plant is expected to begin in the second half of this year and production is expected to start by the end of 2024. Initially, due to the low profit margin of manufacturing AirPods, Foxconn even discussed internally whether to take on this job.
It is worth mentioning that although China is currently the largest production base for Apple devices, Apple is planning to transfer a large amount of production capacity to India. Currently, some products in the iPhone 14 series are being manufactured by Indian assembly plants. There are also reports that in the iPhone 15 series, both the standard version and the Plus version of iPhone 15 will be supplied by Indian assembly plants in the first batch. Although the proportion of iPhones manufactured by Indian plants is currently small, it is steadily growing. It is expected that in the future, Indian factories may also be involved in the production of iPhone Pro and Pro Max models.
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