TechnologyFoxconn to invest Rs 12,500 crore to increase iPhone production in India

Foxconn to invest Rs 12,500 crore to increase iPhone production in India

Foxconn, the supplier of American company Apple, which makes the worldwide popular iPhone, plans to invest $ 1.5 billion (about Rs 12,500 crore) in India. Taiwan’s Foxconn has prepared to increase the production of iPhone in the country. It also sent Chinese engineers to train workers in its factory.

Recently, Foxconn representative in the country had said that the company aims to double its investment and workforce by next year. It wants to diversify its production outside China. Last year, the lockdown imposed in China due to Corona had a major impact on Foxconn’s production. It has about 40,000 workers in its iPhone factory in Tamil Nadu. According to a media report, recently the company had called Chinese engineers to improve the production in this factory. Foxconn’s factories in China have high efficiency levels.

However, the ratio of defective units in its factory in Tamil Nadu is high and the cost of materials is also expensive. Because of this Foxconn gets less profit. Foxconn will compete with Tata Group in the production of iPhone in the country. Tata Group, which does business ranging from automobiles to software, had recently taken over Wistron’s unit in the country.

A Tata Group company already supplies components for the iPhone. After the acquisition of Wistron, this company will be able to assemble iPhones in the country like Apple’s two suppliers Foxconn and Pegatron. For this deal, Tata Group has entered into a binding share purchase agreement to buy 100 percent equity stake in Wistron’s unit in the country. iPhone 14, iPhone 15 and its other models are assembled in the plants of Apple suppliers Foxconn and Pegatron in the country. Apple’s revenue from China declined by about 2.5 percent in the fourth quarter ended in September. The company’s sales for the current quarter are likely to be similar to last year. This quarter is important for Apple because it falls during the Christmas holidays when the sales of new iPhones are the highest.

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Also read:
Smartphone, Factory, Demand, Foxconn, Market, IPhone, Components, Investment, Tata Group, China, Workers, Apple, Production

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