Page 10 - Foxconn

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Foxconn sees opportunity to invest several billions of dollars in India

Taiwanese electronics manufacturing giant Foxconn sees potential of investing several billions of dollars in India if it gets to completely implement its plan, a top official of the company said. Hon Hai Technology Group (Foxconn) Chairman and CEO Young Liu during the company's second quarter earnings call on Friday said that the company's Indian arm has achieved the turnover of close to USD 10 billion on an annual basis and there is a lot of investment potential in India. "Foxconn annual revenue was USD 200 billion. From the perspective of India's potential market size and if we can fully implement our plans there, several billion dollars in investment is only the beginning." He said Foxconn operates about nine campuses in India. "Total size will be equivalent to more than 500 football fields. We have over 30 factories in India. The turnover, business size, roughly USD 10 billion annually. We have over 20 dormitories that shelter tens and thousands of employees that work with Foxc

Apple AirPods to be made in India at Foxconn factory in Hyderabad

iPhone maker Apple will start manufacturing its wireless ear buds AirPods at Foxconn's Hyderabad factory, according to sources. Foxconn has approved an investment of USD 400 million for Hyderabad plant which is expected to begin mass production by December 2024. "Foxconn Hyderabad factory will make AirPods. The factory is expected to begin mass production by December," a source told PTI. The information was confirmed by one more source who is privy to the development. An email query sent to Apple and Foxconn did not elicit any reply. AirPods will be the second product category after iPhone that will be made in India. Apple's AirPods leads TWS (true wireless stereo) market globally. It led the global TWS market with about 36 per cent market share in the December 2022 quarter, according to research firm Canalys. Apple was followed by Samsung with 7.5 per cent market share, Xiaomi 4.4 per cent, Boat 4 per cent and Oppo 3 per cent. Xiaomi started making its TWS in India this year

Foxconn spends more to accelerate global migration as China falters

What replaces Foxconn's former mega-factory strategy will have huge ramifications for multi-billion dollar industries, geopolitics, and the world's largest economies

Foxconn's business in India hits $10 billion, to bet $2 billion more

The figure constitutes about 5 per cent of the global revenues of a company that is the world's largest EMS player

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Foxconn Technology looks at India as its third global electric vehicle hub

Plans to corner 5% of EV sales worldwide by 2025

Apple supplier Foxconn ups its investment proposal in Telangana to $550 mn

The Board of Directors FIT Hon Teng Ltd (Foxconn) approved the investment of USD 400 million in Telangana, V Lee, Foxconn India representative said in a social media post. Taiwan-based contract manufacturer Foxconn is Apple's biggest supplier. "FIT Singapore's proposal to make a capital injection of US$ 400,000,000 to Chang Yi Interconnect Technology (India) Private Limited, which is held by FIT Singapore as to 99.99 per cent of the capital stock," FIT Hon Teng informed the Hong Kong Stock Exchange on Friday. Posting the company's disclosure on his social media handle, V Lee said "Moving so fast, Telangana! Another US$400M is coming." Reacting to V Lee's post, Telangana Minister for IT and Industries KT Rama Rao tweeted on Saturday saying the fresh investment proposal is in addition to the already committed USD 150 million earlier. "Our friendship with Foxconn Group remains steadfast, each of us delivering on mutual commitments. With total infusement of $550m (adding previous $150

TN plans global investors' meet in Jan; attracts Rs 2.73 trillion in 2 yrs

Over 300 MoUs translating into investments worth Rs 3 trillion were signed at the last GIM in 2019

Taiwan is and will be India's most trusted partner, says Foxconn CEO

The world's largest electronics maker is keen to show that its India plans are on track. That is understandable because Foxconn needs India as much as India needs Foxconn

Foxconn to invest $600 mn in Karnataka for components, chipmaking machinery

The world's largest contract manufacturer will also invest $250 million in a second plant where it aims to produce chipmaking tools in partnership with Applied Materials

Karnataka govt, Foxconn sign Letter of Intent for two marquee projects

The Karnataka government on Wednesday said it has signed a Letter of Intent (LoI) with Foxconn, a major iPhone assembler for tech giant Apple, to undertake two marquee projects in the state with an estimated investment worth Rs 5,000 crore. The projects would create employment opportunities for 13,000 people in the state, it said. The signing ceremony took place between a high-level delegation of the Government of Karnataka and Foxconn in Chennai recently, where Large and Medium Industries and Infrastructure Development Minister M B Patil and Minister for IT and BT, Rural Development and Panchayat Raj Priyank Kharge along with senior officials met Foxconn Chairman Young Liu and other executives of the company. The two projects are: phone enclosure project under which the Foxconn subsidiary plans to invest USD 350 million (Rs 3,000 crore) with employment opportunities for 12,000 people, and semicon equipment project in collaboration with Applied Materials with a projected investment

Apple's main supplier Foxconn plans $500 mn component plants in India

Foxconn Technology Group, plans to increase its investments to more than $1.2 bn in southern India's Karnataka state and add two component factories there

Foxconn Industrial Internet denies signing deal with Tamil Nadu: Report

The government of the southern Indian state of Tamil Nadu said on Monday it has signed a deal with Foxconn for a new electronic components manufacturing facility that would create 6,000 jobs

K'taka ministers hold talk with Foxconn Chairman on investments in state

Industries Minister M B Patil on Monday said that the Karnataka government had held "fruitful" discussions with Foxconn, a major iPhone assembler for Apple, about intended projects for which the company is keen to invest in the state. Patil, IT/BT Minister Priyanka Kharge and Foxconn Chairman Young Liu were present at the discussions which took place at a private hotel in Chennai, a statement from the Industries Minister's office said. Speaking about the meeting, Patil said that the industrial and investment policies of the state government are conducive to nurturing an ecosystem favouring the growth of industries. Expressing happiness about the discussions, the minister said the talks held with the company chairman were "fruitful". Senior state government officials were also present at the meeting.

Foxconn inks Rs 1.6K crore deal with TN for mobile component plant

First major investment by Taiwan company in India after it parted ways with Vedanta

Foxconn to sign Rs 1,600 crore components plant deal with Tamil Nadu

The subsidiary, Foxconn Industrial Internet (FII), plans to invest Rs 1,600 crore ($194.45 million) to build a campus in Kancheepuram district

Ecosystem for chips in India for very brave: Foxconn Chairman Young Liu

The ecosystem for semiconductor chips in India is for the "very brave", Foxconn Chairman Young Liu said on Friday as he expressed optimism about the country's semiconductor roadmap during the second edition of SemiconIndia in Gandhinagar. Earlier this month, Taiwan-based Foxconn, which also supplies for smartphone giant Apple, withdrew from a USD 19.5 billion semiconductor joint venture with Vedanta as the venture struggled to get a technology partner to make chips that are used in mobile phones to refrigerators and cars. Foxconn is the world's largest contract electronics maker. Addressing SemiconIndia on Friday, Liu said "The ecosystem for chips in India is for the very brave. Every experience only positions companies stronger going forward." Notably, the joint venture between Foxconn and Vedanta was signed in February 2022, after which the JV signed a Memorandum of Understanding with the Gujarat government to invest Rs 1,54,000 crore to set up a semiconductor plant in the ...

Optimistic about India semiconductor path; let's do this together: Foxconn

Foxconn on Friday said it is optimistic about direction of India's semiconductor roadmap, and asserted that Taiwan is and will be India's most trusted and reliable partner. "Let's do this together," Young Liu, Chairman of Foxconn said addressing SemiconIndia 2023. Building an ecosystem for chips in India is "for very brave", he said adding "Where there is a will, there is a way". Lauding the determination of the Indian government in this regard, Liu expressed optimism about where the nation is headed on its semiconductor journey. "Taiwan is and will be your most trusted and reliable partner...Let's do this together," he said. Foxconn is the world's largest contract electronics manufacturer based in Taiwan.

Foxconn unit in talks for $200 million components plant in Tamil Nadu

In the last few months, Foxconn had announced significant investment plans in states like Karnataka, Telangana and Tamil Nadu, bolstering its presence in South India