Hon Hai will build a new factory in India with an investment of up to 128.2 billion rupees-It Industry-php.cn

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Hon Hai will build a new factory in India with an investment of up to 128.2 billion rupees

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Nov 27, 2023 pm 09:34 PM

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According to news from this website on November 27, Hon Hai issued an announcement today evening that it will build a factory on its own behalf on behalf of its Indian subsidiary Foxconn Hon Hai Technology India Mega Development Private Limited. The estimated investment amount is 128.209 billion Indian rupees ( Note from this site: currently approximately 10.9989 billion yuan). There is speculation that this move may be to expand iPhone production capacity in India.

Hon Hai will build a new factory in India with an investment of up to 128.2 billion rupees

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Hon Hai currently has a factory in Tamil Nadu, southern India, to produce iPhones of factories, employing 40,000 people. At the same time, the government of Karnataka in southern India announced in August that Hon Hai will invest US$600 million in two plans in the state to engage in the production of iPhone casing components and chip manufacturing equipment.

Tianfeng Securities analyst Ming-Chi Kuo previously said that the proportion of iPhones produced in India will reach 12% to 14% globally in 2023, and this proportion is expected to increase to 20% to 25% in 2024. At the same time, Apple plans to launch new product introduction (NPI) of the standard iPhone 17 (released in the second half of 2025) in India in the second half of 2024, showing that Apple is increasingly focusing on the Indian market.

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