Foxconn, the company making Apple phones, is planning to pour $1.5 billion into India, as they look to make a mark in the South Asian market. So, where does the latest Foxconn investment news come from?
Foxconn says this investment is all about meeting various operational needs. But here’s the interesting part: just a couple of months ago, they talked about ramping up their investments and workforce in India, according to Reuters.
It looks like they’re trying to mix things up a bit, especially to lessen their liaison with China, and its reliance.
Foxconn has been pretty invested in China for a good 15 years, from 2001 all the way up to 2017. But since 2018, there’s been a significant shift, probably because of the growing trade tensions between the US and China.
But nevertheless, the move to investing in India can only be seen as a strategic move, and Foxconn seems pretty committed to the Indian market. They’re taking serious advantage of India’s “Make in India” initiative, aiming for a bigger role in the local scene.
And we bet you didn’t know that last August, Foxconn announced a $60 million investment in two projects down in South Karnataka in India – set to boost their capabilities in chip manufacturing and making parts for iPhone bodies.
The iPhone 15 Link
The iPhone 15 production started in India this year at the same time as in China. That’s a first for Apple, considering China usually gets the head start.
The iOS Parent, too, is banking on India.
In 2022, Apple decided to lean more on Indian manufacturing, especially with the “iPhone 14” launch. This can only be seen as a clear sign that the Big Tech giant sees India as a key player in their manufacturing strategy, moving a bit away from Beijing.
Pretty interesting, right?
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