Foxconn to Double Jobs and Investment in India, Expanding Presence for Apple

Foxconn aims to double jobs and investment in India over next 12 months
Foxconn is Apple's supplier and world's largest electronics manufacturer
Foxconn expanding presence in India by investing in manufacturing facilities
Foxconn already has iPhone factory in Tamil Nadu employing 40,000 people
In August, Foxconn announced $600 million investment for two projects in Karnataka

reuters.com

Relevant topic timeline:

8/2/2023

Foxconn to invest $600M in Karnataka for iPhone components, chip-making tools projects

Main topic: Foxconn's investment in chip-equipment manufacturing and casing components for iPhones in Karnataka, India. Key points: 1. Foxconn will invest $600 million in two projects in Karnataka for chip-equipment manufacturing and casing components for iPhones. 2. The Taiwanese company signed a letter of intent with the Karnataka government. 3. The projects will create 13,000 jobs in the state. 4. Foxconn has partnered with Applied Materials on the semiconductor manufacturing project. 5. This investment follows Foxconn's deal with the state of Tamil Nadu to invest $194 million in a new electronic components manufacturing facility. 6. India has been attracting global manufacturers and suppliers with incentives to become a global semiconductor and hardware manufacturing hub. 7. Other companies, such as Micron and Apple, have also announced investments in India's semiconductor industry. 8. A previous joint venture between Foxconn and Vedanta ended, but Foxconn remains committed to India and will apply for incentives.

Home
Business 💼