Foxconn Plans $1 Billion Investment in India for Smartphone Display Factory, Serving Apple iPhones

Foxconn Plans $1 Billion Investment in India for Smartphone Display Factory, Serving Apple iPhonesAccording to the Economic Times of India, Foxconn is evaluating a $1 billion (approximately 70.2 billion yuan) investment to set up a smartphone display module assembly plant in Tamil Nadu, primarily to serve Apple iPhones

Foxconn Plans $1 Billion Investment in India for Smartphone Display Factory, Serving Apple iPhones

According to the Economic Times of India, Foxconn is evaluating a $1 billion (approximately 70.2 billion yuan) investment to set up a smartphone display module assembly plant in Tamil Nadu, primarily to serve Apple iPhones. Sources have revealed that Foxconn's model will be open, allowing other contract manufacturers, such as Pegatron or TataElectronics, to utilize components from the plant without relying on assembly modules imported from China. Insiders have also mentioned that while there is no concrete timeline, Foxconn aims to have the plant operational "as soon as possible."

This initiative from Foxconn aims to further strengthen its operations in India and leverage the Indian government's "Make in India" program to reduce production costs. In recent years, Apple has been seeking to shift more of its manufacturing processes to India, reducing its reliance on Chinese supply chains. The Indian government has also been actively encouraging Apple's investments in India, offering tax incentives and land concessions.

Foxconn's investment plan will generate a significant number of employment opportunities in India and boost the country's electronics manufacturing industry. Additionally, the factory will provide Apple with a more stable supply chain and lower production costs.

Foxconn already operates multiple factories in India, primarily manufacturing Apple products like iPhones and iPads. The newly planned smartphone display module assembly plant will further enhance Foxconn's production system in India and provide Apple with a more comprehensive supply chain service.

At present, Foxconn has not issued an official statement regarding this news.