Foxconn stands second globally in manufacturing Apple phones.
New Delhi:
Apple phones would be built in a new 300-acre factory in Karnataka, Union Minister Rajeev Chandrasekhar and Chief Minister Basavaraj Bommai said today. The manufacturing unit will provide employment to one lakh people, they said.
Here are the top 10 updates on this big story:
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Foxconn, the leading manufacturer of iPhones, has been provided land on the outskirts of Bengaluru. The 300-acre campus is said to be one of the largest manufacturing units for Apple phones.
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The Taiwanese company, also known for its flagship unit Hon Hai Precision Industry Co., is planning to invest $700 million in the new plant to ramp up local production, according to a Bloomberg report.
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Sharing the news on Twitter, Union Minister of State for Electronics and IT Rajeev Chandrasekhar praised the “double engine sarkar” of Prime Minister Narendra Modi and Chief Minister Basavaraj Bommai. Separately, Mr Bommai said that the investment will create a “whole lot of opportunities for Karnataka”.
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The factory may also assemble Apple’s handsets, Bloomberg said quoting sources. Foxconn may also use the site to produce some parts for its nascent electric vehicle business, the report added.
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A 17-member delegation of Foxconn management led by chairman Young Liu visited the campus close to the airport today. “Bengaluru was the preferred destination for global companies and had been a forerunner in attracting investment, Foxconn chairman Young Liu said. The delegation would fly to New Delhi to meet Prime Minister Narendra Modi in the evening.
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The investment – one of Foxconn’s biggest single outlays to date in India – comes amid an accelerating shift by global companies from China as Washington-Beijing tensions grow.
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Foxconn, however, continues to roll out iPhones from its sprawling assembly complex in the Chinese city of Zhengzhou where it employs some 200,000 people at the moment.
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This is Foxconn’s second major investment in India. The company is already making the latest generation of iPhones at a site in Tamil Nadu.
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Foxconn, which stands second globally in manufacturing Apple phones, posted an income of 206 billion dollars in 2021. Foxconn is said to be the world’s largest electronics manufacturer. As of last year, it ranks 20th in the Fortune Global 500.
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Foxconn has 173 campuses and offices in 24 countries or regions around the world including China, Japan, Vietnam, the Czech Republic and the US.
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