Foxconn, maker of Apple’s iPhones, invests US$1.6 billion in India expansion plan amid diversification from China
- Taiwan-based Hon Hai Precision Industry says the money will go to construction projects in India, without elaborating
- India’s Karnataka state has said Foxconn planned to invest on two component factories there, on top of another facility close to the Bangalore airport
iPhone maker Hon Hai Precision Industry plans to expand its footprint in India with another NT$50 billion (US$1.6 billion) investment for construction projects.
The announcement, made in an exchange filing in Taiwan late on Monday, did not give any further details, saying only that the investment was for “operational needs”. A spokesman for the company declined to say where the new facilities would be or what they would build.
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India’s Karnataka state government in August announced that Foxconn planned to invest US$600 million on two component factories in the southwestern state. That included a plant that will make mechanical enclosures for iPhones and a semiconductor equipment manufacturing plant Foxconn will operate with Applied Materials, the government said at the time.