News

Apple to export `Make in India` iPhone 15 faster than ever, production to begin   In another push to its India manufacturing dream, Apple maker Foxconn is all geared up to start the local production of the next-generation of iPhone 15 at its Sriperumbudur facility near Tamil Nadu faster than ever, as the company doubles down on the ‘Make in India’ initiative. Sources close to the development told IANS that Apple aims to deliver locally-assembled iPhone 15 as soon as it is launched globally in the middle of next month, in order to narrow the launch-...
Apple to export `Make in India` iPhone 15 faster than ever, production to begin
Apple to export `Make in India` iPhone 15 faster than ever, production to begin
Source: IANS
16/08/2023 11:47:57 AM
Foxconn to establish industrial parks, optimise business in India: Chairman Hon Hai Technology Group (Foxconn) said on Monday it will plan to establish industrial parks and optimise the business environment in India in terms of infrastructure, policies and laws. Foxconn Chairman Young Liu said that since they entered India in 2005, its revenue, number of employees, and investment scale have grown exponentially. “At present, it is mainly engaged in the ICT final assembly business. Going forward, Hon Hai will actively deploy work in the area of key componen...
Foxconn to establish industrial parks, optimise business in India: Chairman
Foxconn to establish industrial parks, optimise business in India: Chairman
Source: IANS
14/08/2023 3:34:11 PM
Factbox-Taiwanese giant Foxconn`s growing interest in India Foxconn has rapidly expanded its presence in India by investing in locations in the south of the country for its manufacturing facilities, as the Taiwanese giant seeks to move away from China. Foxconn, the leading contract manufacturer of electronics, already has an iPhone factory in Tamil Nadu, which employs 40,000 people. Here are some of the areas where the company has invested, according to announcements and sources familiar with its plans. APPLE ASSEMBLY Foxconn plans to make...
Factbox-Taiwanese giant Foxconn`s growing interest in India
Factbox-Taiwanese giant Foxconn`s growing interest in India
Source: Reuters
3/08/2023 4:23:57 PM
Karnataka - Foxconn sign Letter of Intent or two more projects, investments of Rs 5,000 crore The Karnataka government and iPhone maker Foxconn have signed a Letter of Intent (LOI) for two projects with an estimated investment outlay of Rs 5,000 crore generating 13,000 jobs, state Large and Medium Industries Minister M.B. Patil said on Wednesday. These projects are in addition to the iPhone end assembly plant which the Taiwanese company has planned to set up at Devanahalli ITIR in the outskirts of Bengaluru with an investment of about Rs.14,000 crore. Giving out details about th...
Karnataka - Foxconn sign Letter of Intent or two more projects, investments of Rs 5,000 crore
Karnataka - Foxconn sign Letter of Intent or two more projects, investments of Rs 5,000 crore
Source: IANS
3/08/2023 10:06:46 AM
Foxconn to invest $600 million in India's Karnataka for iPhone components, chip-making machinery Taiwan's Foxconn will invest $600 million in two projects in the southern Indian state of Karnataka for chip equipment manufacturing and casing components for iPhones, the state government said on Wednesday. Some $350 million will go towards setting up the iPhone component unit which will generate 12,000 jobs, while Foxconn will tie up with Applied Materials in a $250 million project to make chip-making tools, the government said. Reuters was first to report on the investment plans on ...
Foxconn to invest $600 million in India's Karnataka for iPhone components, chip-making machinery
Foxconn to invest $600 million in India's Karnataka for iPhone components, chip-making machinery
Source: Reuters
2/08/2023 3:09:15 PM
Foxconn EV venture targets India, Thailand for new small car Foxconn's venture attempting to build a standardised electric vehicle platform is targeting India or Thailand for the production of a small battery-powered car under development, the unit's chief executive said. The Taiwanese company's EV platform unit Mobility in Harmony (MIH) would be willing to work with its parent or another company to build the new three-seat EV priced below $20,000 and tailor-made for a corporate delivery fleet, MIH CEO Jack Cheng told Reuters in an inter...
Foxconn EV venture targets India, Thailand for new small car
Foxconn EV venture targets India, Thailand for new small car
Source: Reuters
1/08/2023 11:09:59 AM
Foxconn to set up mobile component facility in Tamil Nadu investing Rs 1,600cr Taiwanese electronics major Hon Hai Technology Group or Foxconn will be setting up a mobile phone component manufacturing facility in Tamil Nadu's Kancheepuram district at an outlay of Rs 1,600 crore. An agreement to this effect was signed between Foxconn and Tamil Nadu government's Guidance Bureau in the presence of Chief Minister M.K. Stalin.  The Foxconn team led by the Group Chairman Young Liu had met Stalin here.  "Was delighted to meet the Foxconn Group C...
Foxconn to set up mobile component facility in Tamil Nadu investing Rs 1,600cr
Foxconn to set up mobile component facility in Tamil Nadu investing Rs 1,600cr
Source: IANS
1/08/2023 9:43:08 AM
Foxconn to set up mobile component facility in Tamil Nadu investing Rs 1,600cr Taiwanese electronics major Hon Hai Technology Group or Foxconn will be setting up a mobile phone component manufacturing facility in Tamil Nadu's Kancheepuram district at an outlay of Rs 1,600 crore.  An agreement to this effect was signed between Foxconn and Tamil Nadu government's Guidance Bureau in the presence of Chief Minister M.K. Stalin.  The Foxconn team led by the Group Chairman Young Liu had met Stalin here.  "Was delighted to meet the Foxconn G...
Foxconn to set up mobile component facility in Tamil Nadu investing Rs 1,600cr
Foxconn to set up mobile component facility in Tamil Nadu investing Rs 1,600cr
Source: IANS
31/07/2023 6:08:06 PM
Foxconn unit to sign $194 million components plant deal with India`s Tamil Nadu  A Foxconn unit will on Monday sign an agreement with India's Tamil Nadu state to build a new facility for electronic components that will create 6,000 new jobs, a senior state government source with direct knowledge said. The subsidiary, Foxconn Industrial Internet (FII), plans to invest 16 billion Indian rupees ($194.45 million) to build a campus in Kancheepuram district, near the state's capital of Chennai, added the source, who was not authorised to speak publicly about th...
Foxconn unit to sign $194 million components plant deal with India`s Tamil Nadu
Foxconn unit to sign $194 million components plant deal with India`s Tamil Nadu
Source: Reuters
31/07/2023 10:48:22 AM
Prime Minister Narendra Modi promises 50% financial support to firms investing in semiconductor sector   Prime Minister Narendra Modi on Friday promised 50 per cent financial assistance to players wishing to set up semiconductor manufacturing facility in the country. Now technology firms will be given 50 per cent financial assistance to set up semiconductor manufacturing facilities in India, he said, adding, “We are continuously carrying out policy reforms to accelerate the growth of the country's semiconductor sector” He was addressing a gathering after inaugurat...
Prime Minister Narendra Modi promises 50% financial support to firms investing in semiconductor sector
Prime Minister Narendra Modi promises 50% financial support to firms investing in semiconductor sector
Source: IANS
28/07/2023 2:32:16 PM
Foxconn unit in talks for $200 million components plant in India`s Tamil Nadu A Foxconn subsidiary is in talks with India's Tamil Nadu state to invest up to $200 million to build a new plant for electronic components in the southern region, two sources with direct knowledge told Reuters on Wednesday. Brand Cheng, CEO of Foxconn Industrial Internet (FII), and other company representatives last week met Tamil Nadu officials including its chief minister to discuss investments in the state, the government said in a statement after the meeting, without elaborating. ...
Foxconn unit in talks for $200 million components plant in India`s Tamil Nadu
Foxconn unit in talks for $200 million components plant in India`s Tamil Nadu
Source: Reuters
27/07/2023 9:14:12 AM
Foxconn, chip giants head to PM Narendra Modi's home state for India conference Top executives from Foxconn and semiconductor firms Micron and AMD will this week attend a conference in Prime Minister Narendra Modi's home state, as the government tries to lure investments into India's nascent chip industry. India wants to establish itself as a semiconductor manufacturing hub, rivaling the likes of Taiwan, and the high demand for chips means the local market will be worth $80 billion by 2028, almost four times its $23 billion size now. But Modi's plan has...
Foxconn, chip giants head to PM Narendra Modi's home state for India conference
Foxconn, chip giants head to PM Narendra Modi's home state for India conference
Source: Reuters
26/07/2023 5:06:19 PM
Engaged with 100 global suppliers to build chip, display fabs in India: Vedanta The Vedanta Group on Tuesday said it remains committed to building India’s first semiconductor and display fabs in Gujarat, and has already engaged with more than 100 global suppliers and ancillary industries. The statement came after Taiwanese chip-making giant Foxconn withdrew from a joint venture to manufacture chips with India-based industrial giant. According to Vedanta Semiconductors and Display Global MD Akarsh K. Hebbar, Vedanta Group remains fully committed to building In...
Engaged with 100 global suppliers to build chip, display fabs in India: Vedanta
Engaged with 100 global suppliers to build chip, display fabs in India: Vedanta
Source: IANS
19/07/2023 9:35:11 AM
Siddaramaiah holds talks with CEO of Foxconn subsidiary in Bengaluru In a major development, Karnataka Chief Minister Siddaramaiah on Monday held an important meeting with the CEO of a subsidiary entity of the Taiwanese chip making giant Foxconn in Bengaluru. The delegation headed by the Foxconn Industrial Internet CEO Brand Cheng met Siddaramaiah at the Vidhana Soudha and discussed establishing a manufacturing unit near Tumakuru. The meeting was attended by the Large and Medium Industries Minister M.B. Patil, RDPR, IT and BT minister Priyank Kharge and ...
Siddaramaiah holds talks with CEO of Foxconn subsidiary in Bengaluru
Siddaramaiah holds talks with CEO of Foxconn subsidiary in Bengaluru
Source: IANS
17/07/2023 2:57:59 PM
Legal hurdles for handing over land to Foxconn cleared, company to start production by next April, says Karnataka Industries Minister Legal hurdles to hand over 300 acres to Taiwanese chip-making giant Foxconn have been cleared and the land would be handed over to the company very soon,  Karnataka's Large and Medium Industries Minister M.B. Patil said on Friday. He also announced that the company would start production by next April. Answering a question by BJP's Doddaballapura MLA Dheeraj Muniraju in the Assembly, Patil said: "A total of 300 acres will be given to the company in the ITIR (IT Investm...
Legal hurdles for handing over land to Foxconn cleared, company to start production by next April, says Karnataka Industries Minister
Legal hurdles for handing over land to Foxconn cleared, company to start production by next April, says Karnataka Industries Minister
Source: IANS
15/07/2023 8:57:20 AM
100% committed to producing chips, display glass in India: Vedanta Chairman Vedanta Chairman Anil Agarwal on Thursday said that he is 100 per cent committed to produce semiconductors and display glass in India and have lined up partners for the same. Agarwal reacted after Taiwanese chip-making giant Foxconn announced it had withdrawn from a joint venture to manufacture chips with India-based industrial giant Vedanta. He said that India is a land of opportunities with huge potential. “We need several ventures to help India become a semiconductor and dis...
100% committed to producing chips, display glass in India: Vedanta Chairman
100% committed to producing chips, display glass in India: Vedanta Chairman
Source: IANS
13/07/2023 4:59:07 PM
Foxconn targets India's chip scheme after pulling plug on $19.5 billion JV Taiwan's Foxconn said it intends to apply for incentives under India's semiconductor manufacturing plan, a day after parting ways with Vedanta on a $19.5 billion chipmaking joint venture. Foxconn withdrew from the JV with Indian metals-to-oil conglomerate Vedanta on Monday, in a setback to Prime Minister Narendra Modi's chipmaking plans for India. The world's largest contract electronics maker said on Tuesday it was working towards applying under India's Modified Pro...
Foxconn targets India's chip scheme after pulling plug on $19.5 billion JV
Foxconn targets India's chip scheme after pulling plug on $19.5 billion JV
Source: Reuters
11/07/2023 4:40:57 PM
Timeline: Foxconn withdraws from $19.5 billion Vedanta chip plan in India Taiwan's Foxconn said on Monday it had withdrawn from a joint venture with conglomerate Vedanta, in a blow to Indian Prime Minister Narendra Modi's chipmaking plans. Here is a timeline of how events have unfolded since the signing of the $19.5 billion joint venture: * Feb. 14, 2022: Foxconn partners with Vedanta to make semiconductors in India in a bid to diversify its business. Foxconn said it will be "a significant boost to domestic manufacturing of electronics in India&q...
Timeline: Foxconn withdraws from $19.5 billion Vedanta chip plan in India
Timeline: Foxconn withdraws from $19.5 billion Vedanta chip plan in India
Source: Reuters
10/07/2023 8:22:26 PM
Foxconn Q2 sales slip 14%, Q3 outlook brighter ahead of year-end peak  Taiwan's Foxconn, a major iPhone assembler for Apple Inc, said on Wednesday that second quarter revenue dropped 13.8% year-on-year but the outlook for the third quarter was brighter ahead of peak shopping season at the end of the year. Foxconn, formally called Hon Hai Precision Industry Co Ltd and the world's largest contract electronics maker, said revenue in the April-June period reached T$1.3 trillion ($41.76 billion), in line with its expectations. For smart consumer e...
Foxconn Q2 sales slip 14%, Q3 outlook brighter ahead of year-end peak
Foxconn Q2 sales slip 14%, Q3 outlook brighter ahead of year-end peak
Source: Reuters
5/07/2023 1:53:25 PM
Foxconn to make iPhones in India`s Karnataka by next April -state government 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 th...
Foxconn to make iPhones in India`s Karnataka by next April -state government
Foxconn to make iPhones in India`s Karnataka by next April -state government
Source: Reuters
1/06/2023 5:43:23 PM
India poised to deny funding for Vedanta-Foxconn chip venture The Indian government is poised to deny crucial funding for Anil Agarwal's chip venture, Bloomberg News reported on Tuesday, a setback to the billionaire's ambition to build India's 'own Silicon Valley.' The authorities are likely to inform the venture between Vedanta and Taiwan's Foxconn that it won't get incentives to make 28-nanometer chips, the report said, citing people familiar with the matter. The venture's application seeking billions in governmen...
India poised to deny funding for Vedanta-Foxconn chip venture
India poised to deny funding for Vedanta-Foxconn chip venture
Source: Reuters
31/05/2023 9:57:52 AM
Vedanta appoints 34-year industry veteran for its semiconductor business in India Vedanta-Foxconn Semiconductors Limited (VFSL), a joint venture between Foxconn and Vedanta Group, has appointed Mike Young as Senior Vice President, Project Management Office and Manufacturing Operations. In this role, Mike will oversee the seamless execution of manufacturing and operational processes as VFSL looks at setting up a state-of-the-art semiconductor fab in India. "Mike Young brings with him 34 years of extensive experience in front-end semiconductor manufacturing across...
Vedanta appoints 34-year industry veteran for its semiconductor business in India
Vedanta appoints 34-year industry veteran for its semiconductor business in India
Source: IANS
25/05/2023 5:27:17 PM
Factbox-Amazon to Walmart, investors in India boost Narendra Modi ahead of vote Indian Prime Minister Narendra Modi this week trumpeted a flurry of investment by global companies as he tries to create more jobs ahead of a general election due in the first half of next year. Amazon.com Inc's cloud computing division on Thursday became the latest company to announce an investment in the world's most populous country. Following are some recent investment announcements, mostly by U.S. companies. AMAZON Amazon Web Services said it planned to invest $13 bil...
Factbox-Amazon to Walmart, investors in India boost Narendra Modi ahead of vote
Factbox-Amazon to Walmart, investors in India boost Narendra Modi ahead of vote
Source: Reuters
18/05/2023 12:48:09 PM
Apple supplier Foxconn to invest $500 million in India`s Telangana state Apple Inc supplier Foxconn will invest $500 million to set up manufacturing plants in the southern Indian state of Telangana, the state's IT minister said on Monday. The investment will create 25,000 jobs in the first phase, K. T. Rama Rao said in a tweet. Reuters in March reported that Foxconn had won an order to make AirPods for Apple and planned to build a factory in India to manufacture the products. Apple has been shifting production away from China, where prior COVID restri...
Apple supplier Foxconn to invest $500 million in India`s Telangana state
Apple supplier Foxconn to invest $500 million in India`s Telangana state
Source: Reuters
15/05/2023 11:30:08 AM
Key Apple supplier Foxconn logs 56% profit loss in Q1, outlook flat Hon Hai Technology Group (Foxconn), the world's biggest contract electronics manufacturer and assembler of iPhones, on Thursday reported a huge 56 per cent loss in net income (year-on-year) in the January-March period owing to sluggish consumer demand as few people are buying smartphones and other gadgets. The net profit for the March quarter dropped to 12.8 billion Taiwanese dollars ($417.17 million) from 29.45 billion Taiwanese dollars in the first quarter last year. Hon Hai Chair...
Key Apple supplier Foxconn logs 56% profit loss in Q1, outlook flat
Key Apple supplier Foxconn logs 56% profit loss in Q1, outlook flat
Source: IANS
11/05/2023 4:44:32 PM
Vedanta appoints Terry Daly as Advisor for Semiconductor Business Vedanta today announced the appointment of Terry Daly as Advisor for its semiconductor business. He will be responsible for providing strategic counsel and inputs as the conglomerate looks at setting up a state-of-the-art semiconductor fab unit and semiconductor assembling and testing unit in India. “We are pleased to welcome Terry Daly to our team,” said David Reed, CEO, Vedanta-Foxconn Semiconductors Limited (VFSL). “As an industry veteran, Terry brings a vast wealth of...
Vedanta appoints Terry Daly as Advisor for Semiconductor Business
Vedanta appoints Terry Daly as Advisor for Semiconductor Business
Source: PR Agency
11/05/2023 12:36:48 PM
Foxconn buys large tract of land near Bengaluru, BJP cheerful Foxconn, the world's biggest contract electronics manufacturer and assembler of iPhones, has bought a huge tract of land on the outskirts of Bengaluru. The key Apple supplier has stated this in its filing at London Stock Exchange. The news has come as a shot in the arm to the ruling BJP ahead of crucial Assembly elections scheduled on May 10. Investment by Foxconn in the state had run into controversy following the opposition parties questioning ruling BJP and calling it a publicity...
Foxconn buys large tract of land near Bengaluru, BJP cheerful
Foxconn buys large tract of land near Bengaluru, BJP cheerful
Source: IANS
10/05/2023 9:32:26 AM
India to reopen process for $10 billion in chip incentives -Bloomberg News India plans to reopen the application process for $10 billion in incentives and assistance to encourage chip manufacturing, as previously announced projects are taking too long, Bloomberg News said on Wednesday, citing people familiar with the matter. India is keeping the process open-ended, doing away with a previous 45-day requirement to submit applications, the report said. The South Asian country now plans to allow companies to apply again and is set to accept applications until its...
India to reopen process for $10 billion in chip incentives -Bloomberg News
India to reopen process for $10 billion in chip incentives -Bloomberg News
Source: Reuters
10/05/2023 9:12:08 AM
Vedanta appoints veteran Terry Daly as advisor for semiconductor biz Global conglomerate Vedanta on Tuesday said it has appointed industry veteran Terry Daly as advisor for its semiconductor business. He will be responsible for providing strategic counsel and inputs as the conglomerate looks at setting up a state-of-the-art semiconductor fab unit and semiconductor assembling and testing unit in India. "We are pleased to welcome Daly to our team. As an industry veteran, he brings a vast wealth of knowledge and experience in managing several workstrea...
Vedanta appoints veteran Terry Daly as advisor for semiconductor biz
Vedanta appoints veteran Terry Daly as advisor for semiconductor biz
Source: IANS
9/05/2023 6:10:24 PM
Foxconn investment proposal cleared by Karnataka high-level committee The Karnataka State High-Level Clearance Committee (SHLCC) has approved Foxconn's investment proposal to manufacture mobile devices at facilities expected to come up in Doddaballapur and Devanahalli, an official statement said on Tuesday. The Large and Medium Industries Ministry statement said that Foxconn Hon Hai Technology India Mega Development Private Ltd (FHH) would invest Rs 8,000 crore with employment opportunities for 50,000 people. A delegation led by Foxconn CEO and Chairm...
Foxconn investment proposal cleared by Karnataka high-level committee
Foxconn investment proposal cleared by Karnataka high-level committee
Source: IANS
22/03/2023 8:59:28 AM
India`s Karnataka government approves $968 million investment from Foxconn unit  The southern Indian state of Karnataka has approved an 80 billion rupee ($967.91 million) investment in the state by a unit of Taiwan's Foxconn. The investment will lead to the creation of 50,000 jobs, the government said in a statement on Monday. Foxconn, the world's largest contract electronics manufacturer, has been in discussions with Indian states, but has not announced any investment plans so far in Karnataka. Foxconn did not immediately respond to Reuters' re...
India`s Karnataka government approves $968 million investment from Foxconn unit
India`s Karnataka government approves $968 million investment from Foxconn unit
Source: Reuters
21/03/2023 4:30:36 PM
Apple supplier Foxconn wins AirPod order, plans $200 million factory in India Taiwanese contract manufacturer Foxconn has won an order to make AirPods for Apple Inc and plans to build a factory in India to produce the wireless earphones, two people with direct knowledge of the matter told Reuters. The deal will see Foxconn, the world's largest contract electronics maker and assembler of around 70% of all iPhones, become an AirPod supplier for the first time and underlines efforts by the key Apple supplier to further diversify production away from China. AirPods ...
Apple supplier Foxconn wins AirPod order, plans $200 million factory in India
Apple supplier Foxconn wins AirPod order, plans $200 million factory in India
Source: Reuters
16/03/2023 8:51:37 AM
Foxconn row: Karnataka Chief Minister releases letter of appreciation by CEO Young Liu After the opposition parties dubbed the ruling BJP's announcement regarding establishment of iPhone assembling unit by Foxconn in Bengaluru as a publicity stunt, Chief Minister Basavaraj Bommai released the letter of appreciation on Monday. The appreciation letter, by Foxconn CEO Young Liu addressed to Bommai, describes the visit of the Foxconn team to Bengaluru a great success. "My team would be in close contact with your team to take this forward and ensure successful groundi...
Foxconn row: Karnataka Chief Minister releases letter of appreciation by CEO Young Liu
Foxconn row: Karnataka Chief Minister releases letter of appreciation by CEO Young Liu
Source: IANS
6/03/2023 5:56:02 PM
Foxconn Group announces investment project in Karnataka In a boost to India's Atmanirbhar Bharat ambitions and Karnataka's success in drawing investments in the electronics manufacturing and assembly segment, Hon Hai Technology Group (Foxconn) has announced a major investment in the state, an official statement said on Friday. Land of 300 acres for the project has been identified near the Bengaluru International Airport, in Doddaballapura and Devanahalli taluks. A Foxconn team, led by CEO and Chairman Young Liu, and comprising 16 sen...
Foxconn Group announces investment project in Karnataka
Foxconn Group announces investment project in Karnataka
Source: IANS
4/03/2023 10:03:37 AM
Foxconn to set up manufacturing facility in Telangana Electronics major Foxconn will set up a manufacturing facility in Telangana with employment generation potential for over one lakh people. This was announced after Foxconn Chairman Young Liu met Telangana Chief Minister K. Chandrasekhar Rao here on Thursday. Hon Hai Technology Group (Foxconn) and the Government of Telangana signed an agreement at the Pragati Bhavan, the official residence of the Chief Minister. The historic deal has the potential to generate employment for more than ...
Foxconn to set up manufacturing facility in Telangana
Foxconn to set up manufacturing facility in Telangana
Source: IANS
3/03/2023 9:32:04 AM
Foxconn Chairman inaugurates India`s largest prototyping Centre in Hyderabad The Chairman and CEO of electronics major Foxconn, Young Liu, along with Telangana's Minister for IT and Industries, K.T. Rama Rao, inaugurated T-Works, India's largest hardware prototyping centre, here on Thursday. The state-of-the-art facility is expected to accelerate India's journey towards becoming a leader in product innovation. The 78,000 sq ft building was unveiled in a unique way via a spectacular curtain drop (called a 'kabuki' drop). The inaugural event wa...
Foxconn Chairman inaugurates India`s largest prototyping Centre in Hyderabad
Foxconn Chairman inaugurates India`s largest prototyping Centre in Hyderabad
Source: IANS
3/03/2023 9:13:14 AM
Foxconn in talks to invest in India's Karnataka state India's southern Karnataka state is in serious talks with Taiwan's Foxconn over investment plans, Chief Minister Basavaraj Bommai said on Wednesday, potentially setting it up as the Indian third state to host Foxconn. "We are in serious discussion of investment plans with Hon Hai Technology Group (Foxconn) at their Taiwan HQ & look forward to a fruitful collaboration," Bommai said in a tweet. "We remain committed to welcome the best companies to the state & r...
Foxconn in talks to invest in India's Karnataka state
Foxconn in talks to invest in India's Karnataka state
Source: Reuters
9/02/2023 10:01:03 AM
Apple eyes India, Vietnam to replace China as its key manufacturer China, which is still the key Apple supplier, may lose its tag as leading iPhone manufacturer as Apple looks at India and Vietnam to bolster its supply chain, the media reported on Saturday. Largest Apple supplier Foxconn has "quietly finalised plans" to relocate some of its Apple iPad and MacBook production to Vietnam, reports The South China Morning Post. Apple has reportedly cut back on orders citing weakening demand in potential blow to its Chinese suppliers amid Covid dis...
Apple eyes India, Vietnam to replace China as its key manufacturer
Apple eyes India, Vietnam to replace China as its key manufacturer
Source: IANS
14/01/2023 5:36:51 PM
Apple supplier Foxconn invests another $500 mn in India Amid supply chain disruptions at its key China iPhone plant, Apple supplier Foxconn is investing another $500 million in India, the media reported on Thursday. TechCrunch first reported, quoting a company stock exchange filing in Taiwan, that Foxconn's Singapore subsidiary is $500 million in Hon Hai Technology India Mega Development Pvt Ltd. The move comes as Apple is fast forwarding its manufacturing plans for both iPhones and iPads in India and Vietnam in the wake of China unrest ...
Apple supplier Foxconn invests another $500 mn in India
Apple supplier Foxconn invests another $500 mn in India
Source: IANS
9/12/2022 9:12:16 AM
After iPhones, Apple now plans to shift some iPad production to India As Apple plans to shift more iPhone production away from cto India, it is now reportedly looking to also move the production of some iPads to India to keep its supply chain healthy amid Covid-related disruptions. Apple has "talked to Indian officials about locating some iPad manufacturing in the country as US-China relations sour and China's Covid crackdowns snarl supply chains," reports c, citing sources. Apple is planning to shift iPad manufacturing to India as the compa...
After iPhones, Apple now plans to shift some iPad production to India
After iPhones, Apple now plans to shift some iPad production to India
Source: IANS
6/12/2022 12:31:46 PM
Nasdaq falls and dollar rises on investor caution The Nasdaq closed Friday's shorter session lower with pressure from Apple Inc, while the dollar gained as investors shied away from risk as they worried about consumer spending and monitored China's reaction to a resurgence of COVID cases. Frustration simmered among residents and business groups in China as the government set stricter COVID-19 control curbs just weeks after hopes for easing restrictions had been raised. And market heavyweight Apple's shares were weighed down...
Nasdaq falls and dollar rises on investor caution
Nasdaq falls and dollar rises on investor caution
Source: Reuters
26/11/2022 10:43:42 AM
Apple supplier Foxconn plans to quadruple workforce at India plant-sources  Apple supplier Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, two government officials with knowledge of the matter said, pointing to a production adjustment as it faces disruptions in China. Foxconn has grabbed headlines in recent weeks, with tight virus restrictions at its Zhengzhou plant, the world's largest iPhone factory, disturbing production and fuelling concerns over the impact of China's virus policy on global supply chains. ...
Apple supplier Foxconn plans to quadruple workforce at India plant-sources
Apple supplier Foxconn plans to quadruple workforce at India plant-sources
Source: Reuters
11/11/2022 3:19:58 PM
iPhone maker Foxconn, Saudi Arabia enter EV market  iPhone maker Foxconn and Saudi Arabia's sovereign wealth fund have formed a joint venture called 'Ceer' to build and sell electric vehicles. The joint venture will license component technology from BMW to use in the vehicle development process. Foxconn said in a statement that it will develop the electrical architecture of the vehicles which will lead to "a portfolio of products" in the areas of infotainment, connectivity and autonomous driving technologies. ...
iPhone maker Foxconn, Saudi Arabia enter EV market
iPhone maker Foxconn, Saudi Arabia enter EV market
Source: IANS
4/11/2022 2:02:54 PM
Vedanta expects revenue to jump to $50 billion in two years' time - Chairman Anil Agarwal Metals to oil conglomerate Vedanta Ltd expects annual revenue of $50 billion in the next two to three years, roughly double projected revenues for fiscal year 2023, as it looks to ramp up production, including metals used in electric car batteries, its chairman said. Vedanta reported 1.327 trillion rupees ($16.05 billion) in revenues in the fiscal year that ended in March, up from 880.2 billion rupees a year earlier. "We'll go to $50 billion in two years' time and this will...
Vedanta expects revenue to jump to $50 billion in two years' time - Chairman Anil Agarwal
Vedanta expects revenue to jump to $50 billion in two years' time - Chairman Anil Agarwal
Source: Reuters
1/11/2022 5:29:51 PM
Apple sets new revenue record in India, logs double-digit growth  Apple CEO Tim Cook has said that the company has made a new revenue record in India in the July-September period, and continues to perform well with strong double-digit growth in the country, which is next on Apple's big manufacturing plans. Apple posted a September quarter record revenue of $90.1 billion globally, up 8 per cent year over year. Annual revenue was $394.3 billion, also up 8 per cent year over year. "Across nearly every geographic segment, we reached a new r...
Apple sets new revenue record in India, logs double-digit growth
Apple sets new revenue record in India, logs double-digit growth
Source: IANS
28/10/2022 9:54:24 AM
Vedanta-Foxconn semiconductor plant leads India to usher in golden age for electronics  It is a known fact that an overwhelming majority of the worlds chip and semiconductor output is limited to some countries like Taiwan, China, South Korea, Singapore, Hong Kong, Thailand and Vietnam. Apart from the obvious reasons of monopoly and overdependence on few nations, it also hampers the interests of the global population at large. Many countries far-off have to pay a heavy price while some are able to deal in excesses of these chips, acting as middlemen in some cases. Howeve...
Vedanta-Foxconn semiconductor plant leads India to usher in golden age for electronics
Vedanta-Foxconn semiconductor plant leads India to usher in golden age for electronics
Source: IANS
1/10/2022 12:38:26 PM
Tamil Nadu to attract industries qualified under Centre's PLI scheme: M.K. Stalin Tamil Nadu will try to attract industries that have qualified under the Central government's productivity linked incentive (PLI) scheme, Chief Minister M.K. Stalin said on Friday. Inaugurating the Rs 1,100 crore smart phone factory of Taiwan's Pegatron near here he said the electronics industry has the capability to change the industrial map of the state. Citing companies like Salcomp, Dell, Bosch, Samsung, Foxconn, Tata Electronics, and others having their plants in the state, ...
Tamil Nadu to attract industries qualified under Centre's PLI scheme: M.K. Stalin
Tamil Nadu to attract industries qualified under Centre's PLI scheme: M.K. Stalin
Source: IANS
1/10/2022 11:07:21 AM
Apple begins assembling new iPhone 14 at Foxconn facility in India  Apple has begun assembling its new iPhone 14 at the Foxconn facility in India, a first in years when a new iPhone is being assembled within weeks of its global launch in the country, the tech giant confirmed on Monday. The locally-assembled iPhone 14 will go on sale in the country in the fourth quarter, as the company bolsters its local manufacturing. Foxconn is assembling the new iPhone 14 at its Sriperumbudur facility near Chennai. "The new iPhone 14 lineup introduces gr...
Apple begins assembling new iPhone 14 at Foxconn facility in India
Apple begins assembling new iPhone 14 at Foxconn facility in India
Source: IANS
26/09/2022 10:32:07 AM