 "Apple supplier Foxconn to make iPhones in Karnataka by April 2024")
Apple Inc supplier Foxconn will start manufacturing iPhones in the southern Indian state of Karnataka by April 2024, the state government said on Thursday.
The land for the factory would be handed over to Foxconn by July 1, the government said, adding that the project, valued at Rs 13,000 crore ($1.59 billion), is expected to create around 50,000 jobs.
Foxconn, the world's largest contract electronics manufacturer, has set a target of manufacturing 20 million iPhones a year at the plant in Devanahalli, on the outskirts of state capital and tech hub Bengaluru.
Apple has been shifting production away from China after the country's strict Covid-related restrictions disrupted the production of new iPhones and other devices in the country. The tech giant is also looking to avoid a hit to its business due to tensions between Beijing and Washington.
A spokesperson for Foxconn did not immediately respond to a request for comment from Reuters.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app