Tag: foxconn india

Technology

Apple to manufacture more than 50 mn iPhones, 25 pct of its annual global production in India

Apple has major plans for India. According to a report, Apple and its suppliers will manufacture as many as 50 million units of iPhone each year. This number will be as much as one-fourth or 25 percent of the global production of iPhones. The factories in India will be ramped up to meet the production demand in the next two to three years. The production quantity is expected to be increased even further, once the current plan is reached. After that additional tens of millions of units of iPhones will be added to the lineup.The information comes from a report by the Wall Street Journal, which stated, “Apple and its suppliers, led by Taiwan-based Foxconn Technology Group, generally believe the initial push into India has gone well and are laying the groundwork for a bigger expansion, say...
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Foxconn to make iPhones in India’s Karnataka by next April – State govt

Apple Inc supplier Foxconn will start manufacturing iPhones in the southern Indian state of Karnataka by April 2024, the state government said on Thursday.The land for the factory would be handed over to Foxconn by July 1, the government said, adding that the project, valued at 130 billion rupees ($1.59 billion), is expected to create around 50,000 jobs. Foxconn, the world's largest contract electronics manufacturer, has set a target of manufacturing 20 million iPhones a year at the plant in Devanahalli, on the outskirts of state capital and tech hub Bengaluru. Apple has been shifting production away from China after the country's strict COVID-related restrictions disrupted the production of new iPhones and other devices in the country. The tech giant is also looking to avoid a hit to ...
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iPhone maker Foxconn buys huge site in India tech hub Bengaluru

Taiwanese electronics giant Foxconn has bought a huge tract of land on the outskirts of Indian tech hub Bengaluru, the key Apple supplier said in a filing Tuesday as it looks to diversify production away from China.Also known by its official name, Hon Hai Precision Industry, Foxconn is the world's biggest contract electronics manufacturer and a principal assembler of Apple iPhones. Both companies are seeking to shift manufacturing away from China after strict Covid policies, a bout of industrial unrest and ongoing diplomatic tensions with the United States hurt production. The 1.2 million-square-metre (13 million-square-foot) acquisition in Devanahalli, near the airport for Bengaluru, was announced in a statement to the London Stock Exchange.It said that subsidiary Foxconn Hon Hai Tech...
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From iPhone 3G to first retail store: Apple’s 15-year journey in India

It took Apple Inc 15 years from when it first started selling its iPhone in India to having a company-run retail store in now the world's second-biggest smartphone market, one where it has faced several business challenges.As Apple opens its first stores, here is a timeline of its journey in India, where the U.S. firm's contract manufacturers are increasingly making iPhones. August 2008: iPhone 3G made its debut in India minus the mass hysteria and winding queues that had marked its launch in the U.S., Europe and parts of Asia. January 2016: Apple files an application with India's government to set up its own stores in India.May 2016: Apple chief Tim Cook met Indian Prime Minister Narendra Modi in New Delhi for the first time as the company looks at plotting an expansion strategy.June ...
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Apple Supplier Foxconn’s Sales Decline Despite China Reopening

Hon Hai Precision Industry Co.'s February sales fell 11.7% from a year earlier, despite a boost for the iPhone assembler from China's reopening. The Apple Inc. supplier, also known as Foxconn, said monthly revenue dropped to NT$402 billion ($13 billion) last month. Still, first-quarter outlook is “roughly in line with market expectation,” based on sales figures in the last two months, Hon Hai said in a statement Sunday. Lunar new year holidays in China occurred in January this year while in 2022 they took place in February. Output at the Taiwanese company's vast iPhone assembly complex in the Chinese city of Zhengzhou largely resumed normal operations in January, following disruptions from a Covid outbreak. Attention is on how the popularity of iPhones holds up, with overall sm...
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Foxconn says no ‘definitive agreements’ for new India investment

Taiwanese tech giant Foxconn confirmed on Saturday that its chairman had visited India, but denied it had "entered into any binding, definitive agreements" after reports saying it was planning new investments in the country. Also known by its official name, Hon Hai Precision Industry, Foxconn is the world's biggest contract electronics manufacturer and a principal assembler of Apple iPhones. Both companies are seeking to diversify away from China, where much of their manufacturing is based, after strict Covid policies last year and ongoing diplomatic tensions with the United States hurt production. Foxconn said in a statement on Saturday that no deals had been finalised during chairman and CEO Young Liu's visit to India from February 27 to March 4. "Foxconn has not entered int...
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Vedanta sees no funding problems for Indian chip JV with Foxconn

Vedanta does not see any funding problems for a $19.5 billion semiconductor venture with Taiwan's Foxconn, its chairman told CNBC-TV18 on Wednesday, adding he hoped the project would foster local electronics clusters. Vedanta does not see any funding problems for a $19.5 billion semiconductor venture with Taiwan's Foxconn, its chairman told CNBC-TV18 on Wednesday, adding he hoped the project would foster local electronics clusters. Metals-to-oil conglomerate Vedanta on Tuesday signed an agreement with the western Indian state of Gujarat for the project, which it expects will start commercial production in about two years. "Foxconn has taken equity. They will bring their own money," Vedanta's Anil Agarwal said. "With the...
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iPhone Maker Foxconn Strikes Pact for Chip Plant in Western India

Hon Hai Precision Industry Co., the assembler of most of the world’s iPhones, plans to build a chipmaking facility in India with a local partner to tap rising demand for semiconductors and the government’s support for such projects. Hon Hai Precision Industry Co., the assembler of most of the world's iPhones, plans to build a chipmaking facility in India with a local partner to tap rising demand for semiconductors and the government's support for such projects. A joint venture of Taiwan's Hon Hai, known also as Foxconn, and metals company Vedanta Ltd. will set up a factory in Gujarat, the home state of Prime Minister Narendra Modi. The total investment in the project, which includes semiconductor fabrication, assembly and...