(Reuters) – Apple supplier Foxconn plans to invest an additional 139.11 billion rupees ($1.67 billion) in the Indian state of Karnataka, the state government said in a statement on Tuesday. The Taiwanese company, which assembles about 70% of iPhones and is the world’s largest contract manufacturer, has diversified production away from China due to disruptions from COVID-19 and geopolitical tensions. It has rapidly expanded its presence in India over the past year, investing heavily in manufacturing facilities in the southern part of the country. In the state of Karnataka, the…

According to a statement from the state government on Tuesday, Foxconn, an Apple supplier, intends to inject an extra 139.11 billion rupees ($1.67 billion) into the Indian state of Karnataka. The Taiwanese company, which assembles about 70% of iPhones and is the world’s largest contract manufacturer, has diversified production away from China due to disruptions from COVID-19 and geopolitical tensions. It has rapidly expanded its presence in India over the past year, investing heavily in manufacturing facilities in the southern part of the country. In the state of Karnataka, the…

Apple is looking to increase iPhone production from India in the coming years and is said to want to expand its current lineup to show its focus and ambitions in the country. According to a report in the Economic Times this week, the Tata Group’s iPhone factory will be expanded over the next 18 months, helping the manufacturer double its capacity to produce iPhones for the market. Apple is clearly looking at the Tata Group to step up its game and expand iPhone production, which will directly affect the number…

BENGALURU: Taiwan’s Foxconn will invest $1.5 billion in India in its latest expansion plan, the world’s largest electronics contract manufacturer said on Monday. The company that announced the investment plan in the stock exchange application did not provide more detailed information. Foxconn has rapidly expanded its presence in India by investing in manufacturing facilities in the southern part of the country. The contract manufacturer plans to double its workforce and investments in India by next year, the company’s director said in September. The company’s chairman, Liu Young-way, had also said…

Foxconn Technology Group and STMicroelectronics NV are joining forces to submit a joint bid for the construction of a semiconductor factory in India. The aim is to secure state support and expand their presence in the South Asian nation. Taiwan’s Foxconn and Franco-Italian STMicro are seeking government support for a 40-nanometer chip factory, people familiar with the matter said, asking not to be identified because the plan is not public. Such mature chips are used in cars, cameras, printers and many other machines. The move comes after Foxconn’s venture with…

In 2017, Foxconn made a commitment to invest $10 billion in establishing facilities in Wisconsin, with the expectation of creating up to 13,000 jobs. However, the Taiwanese supplier to tech giants such as Apple is now selling two properties in Eau Claire and Green Bay, which were purchased for nearly $12 million in 2018. Wisconsin Public Radio, as reported by Gizmodo and The Verge, discovered that only three out of the six floors in the Green Bay building are currently being utilized. Additionally, the portion of the mixed-use property in…

On Monday, Foxconn, a major Taiwanese technology company and a key supplier for Apple, announced its intention to invest “several billion dollars” in India. The company aims to shift its manufacturing operations from China in order to diversify its production. Foxconn – also known by its official name Hon Hai Precision Industry – is the world’s largest contract electronics manufacturer and assembles equipment for many companies, notably Apple’s iPhones. It operates in more than two dozen countries, but most of its operations are based in China — a dependency it…