Major Apple supplier Foxconn will invest $1.5 billion in its Indian subsidiary.
Apple plans to import the majority of iPhones sold in the U.S. from India by the end of 2026. Meanwhile, its main contract manufacturer, Foxconn, announced it would invest $1.5 billion in its Indian subsidiary to address the capacity shift from China to India.
The Taiwan-based company stated in an exchange announcement on Monday that the investment was completed through its Singapore subsidiary. Hon Hai is currently building new factories and expanding production capacity in southern India. The company has not yet responded to media inquiries via email.
Apple is accelerating the adjustment of its supply chain and plans to import the majority of iPhones sold in the U.S. from India by next year's end (2026). This shift has drawn dissatisfaction from U.S. President Donald Trump. Last week, he said he had asked Apple CEO Tim Cook to stop building factories in India.
Currently, most of the iPhones made in India are assembled at Foxconn's factory in southern India. In the past 12 months up to March this year, Apple assembled $22 billion worth of iPhones in India, a nearly 60% increase from the previous year.
Source: https://www.toutiao.com/article/1832674464640011/
Disclaimer: The article solely represents the author's personal views.