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6d ago

Foxconn Invests $1.48 Billion in India to Expand iPhone Manufacturing

Apple ramps up production shift from China to India, with Foxconn's Tamil Nadu and Bengaluru plants key to supplying U.S. markets by June.

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Foxconn logo is seen in this illustration taken, May 2, 2023. REUTERS/Dado Ruvic/Illustration
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Overview

  • Foxconn has infused $1.48 billion into its Tamil Nadu unit, Yuzhan Technology, through its Singapore-based subsidiary to expand iPhone production capacity.
  • Apple plans to source the majority of iPhones sold in the U.S. from India in the June quarter, reflecting its strategy to reduce reliance on China.
  • Foxconn's Bengaluru facility is set to begin commercial iPhone shipments to the U.S. by June, marking a significant milestone in Apple's global supply chain shift.
  • Tata Electronics has started assembling iPhone 16 and 16e models at its Hosur facility, further diversifying Apple's supplier base in India.
  • India's government is encouraging Apple to increase local value addition in iPhone manufacturing to 35–40% under a new electronics components scheme.