Foxconn expanding in India with new $500 million investment

Foxconn expanding in India with new $500 million investment

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Apple’s main iPhone manufacturer Foxconn is continuing to work on moving away from dependency on China, and has now invested half a billion dollars in India.

Foxconn’s existing manufacturing plant in India helped it keep at least some iPhone production going. The company has also already revealed it plans to quadruple its Indian workforce over time.

Now according to Techcrunch, Foxconn is ramping up its India processor manufacturing business, with a new $500 million investment in the country.

The investment is recorded in a Taiwan stock exchange filing dated December 8, 2022. Foxconn is reportedly deploying the investment into its Hon Hai Technology India Mega Development Private Limited operation.

Based on Apple and Foxconn’s efforts in India, analysts predict that a quarter of all iPhone production may be done in the country by 2025.

Foxconn’s main iPhone plant near the Chinese city of Zhengzhou has recently been subjected to lockdowns in the local authority’s severe COVID measures. It’s also had workers either fleeing the company, or rioting, because of conditions.

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