Apple supplier Foxconn to invest $1 billion in India



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Apple supplier Foxconn to invest $1 billion in India

Foxconn, the Taiwanese multinational electronics contract manufacturer, widely known as the Apple Inc.' s iPhone assembler, had been exploring an option to invest as many as $1 billion in a bid to expand its Southern Indian factory, where the Taiwanese electronics manufacturer has been assembling the “Made in India” iPhones, at least two sources familiar with the subject-matter had unveiled late on Friday on condition of anonymity as the sources were not authorized speak publicly over the issue.

In point of fact, followed by the reveal of the media headline that the iPhone assembler had been working out an expansion strategy for its South Indian factory, industry analysts were quoted saying that the Foxconn move, magnitude of which had not been reported on prior occasions, had been a part of the iPhone assembler’s large-scale plan to mutely sway away from China aimed at averting the collateral damages stemmed from the Sino-US trade war amid a pandemic outbreak at large.

Apple asking its clients to remove iPhone production out of China

Meanwhile, as neither Foxconn nor Apple Inc. had declined to comment over the issue while being asked on Friday, one of the sources directly briefed over the matter was quoted saying to a press agency on condition of anonymity, “There’s a strong request from Apple to its clients to move part of the iPhone production out of China”.

Apart from that, another source familiar with the issue, who asked anonymity given the scale of sensitivity of the matter, had told to a press agency that the Taiwanese iPhone assembler had been planning to invest a whooping upsum of $1 billion at its Sriperumbur plant, roughly 50 kilometre west of Chennai, the capital city of Tamil Nadu, where Foxconn has been assembling the Apple Inc.’s iPhone XR, adding that the investment would take place over the course of next three years.

Concomitantly, two of the sources mentioned above had also told in tandem that some of other iPhone models, which were being assembled by Foxconn in China, would be made at its Chennai assembling plant.