Page 10 - Foxconn

India very important for manufacturing in future: Foxconn Chairman Liu

India will be an important country in terms of manufacturing in future, Young Liu, Chairman and CEO of Hon Hai Technology Group (Foxconn) has said, his latest comment adding to a growing chorus of global voices acknowledging the country's bold moves to position itself as electronics and hi-tech production powerhouse. In an interaction with reporters in Taipei, the top honcho of the Taiwanese electronics manufacturing giant said the development of the entire ecosystem and industrial chain, and opportunities for development in India are "very, very huge opportunities". "If there is no big change, India will be a very important country in terms of manufacturing in the future," Liu said. In the past, it took 30 years to build the entire supply chain ecosystem in China, he noted, adding that while it will take an "appropriate amount of time in India" and the process will be shorter given the experience. The environment too is not quite the same, he said pointing to the advent of new ...

Aspiring Taiwan presidential candidate Terry Gou resigns from Foxconn board

Aspiring Taiwanese independent presidential candidate Terry Gou has resigned from the board of Foxconn, the Apple supplier he founded nearly a half-century ago. The company, officially registered as Hon Hai Precision Industry Co., Ltd., issued a news release late Saturday saying Gou, its former chair, had resigned for personal reasons. It wasn't clear what, if any, immediate effect Gou's decision would have on the operations of Foxconn, ranked 20th in the 2023 Fortune Global 500 and considered one of the world's largest technology companies. It is headquartered in Taiwan, but does the vast majority of its manufacturing in China, where it employs hundreds of thousands making iPhones in vast factory-dormitory complexes that have sometimes seen frictions between workers and management over employment conditions. Guo announced Aug. 28 he would run as an independent candidate in Taiwan's presidential election, ending months of speculation. At a news conference, Gou criticized the gover

Weekend Bites: Beleaguered tycoon, GDP, Ambani children, and Wonderlust

In which we munch over the week's platter of news and views

It's Sahasra Electronics, the chipmaker who came in from the cold

It could have been Foxconn. But the world's largest contract electronics manufacturer said on July 10 it had withdrawn from its $19.5 billion semiconductor joint venture with Vedanta

Foxconn, HP, Lenovo, 35 other firms apply for PLI IT hardware scheme

As many as 38 companies, including big names like Foxconn Group, HP, Dell and Lenovo, have applied for incentives under the mega Production Linked Incentive (PLI) IT hardware scheme for manufacturing laptops, PCs and servers. As of 10.30 PM on Wednesday, the number of applications had climbed to 38, from 32 applicants around 5.30 PM. The window for submission of applications for PLI IT hardware scheme closes at midnight. Earlier in the evening, Minister of Electronics and IT Ashwini Vaishnaw had said that Foxconn Group, HP, Dell and Lenovo are among companies which have applied. Others who have thrown their hat into the ring include Flextronics, Dixon, Acer, Thompson, VVDN, HP Enterprises and Asus, Vaishnaw said, terming the response from companies as "fabulous." At that time, 32 applications had already come in, and while that list had impressive names, Cupertino, California-headquartered Apple had not put in its application till then. The name of companies who submitted their ...

Running for Prez, China can't threaten me: Foxconn founder Terry Gou

Earlier this year, Gou made a second bid to be the KMT's candidate for the presidential election, but the party chose instead Hou Yu-ih, the mayor of New Taipei City

Apple, Tesla links mean China can't pressure business: Foxconn's Terry Gou

If China were to confiscate assets of Hon Hai Precision Industry Co., it would hurt the interests of major global pension funds, and "no foreign investor will dare to invest," he said

Foxconn's Terry Gou to run for Taiwan's presidency as independent candidate

Terry Gou, the billionaire founder of the electronics giant Foxconn, declared Monday that he will run as an independent candidate for president in Taiwan's 2024 election, ending months of speculation. At a news conference, Gou criticized the governing Democratic Progressive Party, saying its policies have brought Taiwan into the risk of war with China, which claims the self-ruled island democracy as part of its territory. He said Taiwan also needs new approaches on the economy and other matters at home. Domestically, the national policy direction is filled with all sorts of mistakes. There's no way to solve the difficulties of Taiwanese industry and people's livelihoods, he said. Gou's Foxconn, formally known as Hon Hai Precision Industry Co., is a major supplier to Apple and has factories in China. He has long had presidential aspirations. He ran in the 2019 election but lost as Tsai Ing-wen of the Democratic Progressive Party easily won re-election. This time around, Gou initial

Smartphone manufacturers expected to hire 60,000 in next 6-12 months

Tamil Nadu is likely to make up for a large part of these jobs, alongside Delhi-National Capital Region, and Karnataka

Apple's supplier Foxconn begins iPhone 15 production in Tamil Nadu

A Foxconn Technology Group plant in Sriperumbudur is preparing to deliver the newest devices only weeks after they start shipping from factories in China

Top headlines: Gangwal to sell IndiGo shares, India Inc's Q1 result review

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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

Top headlines: Adani probe ends, chana prices rise ahead of festival season

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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