Page 13 - Foxconn

Foxconn Q2 sales fall 14%, Q3 outlook brighter ahead of shopping season

For the month of June, sales fell 19.7% year-on-year, though at T$422.8 billion it was still the second highest figure on record for the same period

Commerce ministry asks departments to consult with PLI scheme beneficiaries

The commerce and industry ministry has suggested departments, which are implementing their sector-specific production-linked incentive schemes, hold consultations with PLI beneficiary companies to understand their issues, government officials said. The suggestion was made in a workshop on the production-linked incentive (PLI) scheme called by the ministry on June 27. The meeting assumed significance as the government disbursed only Rs 2,900 crore till March 2023 out of Rs 3,400 crore claims received under the scheme. The scheme was announced in 2021 for 14 sectors, such as telecommunication, white goods, textiles and pharma with an outlay of Rs 1.97 lakh crore. The departments were also asked to ensure that PLI beneficiaries complete their investments and meet production targets. "It was suggested to the line ministries now to call the PLI beneficiary companies for consultations with them only and if they flag any issue, it could be conveyed to the commerce and industry ministry so

Vedanta-Foxconn JV reapplies for chip manufacturing unit incentives

The company had earlier announced that the plant will be set up in Dholera, Gujarat, with an investment of around Rs 1.5 trillion and start making revenue by 2027

Vedanta Foxconn JV re-submit application to set up semiconductor plant

Vedanta Foxconn JV has re-submitted an application to set up an electronic chip manufacturing plant, the joint venture company said on Tuesday. The company had earlier announced that the plant will be set up with an investment of around Rs 1.5 lakh crore and start making revenue by 2027. "We have submitted the application as per the revised guidelines. We are committed to building a world-class fab in India," Vedanta Foxconn Semiconductor Ltd said in a statement. The company has re-submitted the application under the modified semiconductor programme. Under the modified programme, the government has increased the fiscal incentive to 50 per cent of the project cost for setting up semiconductor Fabs in India of any node (including mature nodes). Similarly, the fiscal incentive of 50 per cent of the project cost is available for setting up Display Fabs of specified technologies in India. Earlier, the scheme offered fiscal support of 30 per cent of capital expenditure to approved unit

With Vedanta JV facing hurdles, Foxconn reaches out to other companies

Foxconn has already held informal discussions with a few companies to explore a potential partnership, including 'two large domestic corporate groups'

iPhone maker Foxconn to start making electric vehicles in India: Report

The company is keen on setting up its plant in Maharashtra but due to some challenges, it may consider Tamil Nadu as its auto manufacturing hub

Why 30% localisation an uphill task for Apple under PLI scheme in India

Apple's vendors have localised chargers, batteries, printed circuit board assembly (or PCBAs), enclosures, and coils, to name a few

Foxconn declaration shot in the arm for newly-elected Cong govt in K'taka

The matter ran into controversy with the opposition parties calling it as a publicity stunt after the claims of the BJP government was disputed by the company

Foxconn to start making iPhones in Bengaluru by April 2024: K'taka Minister

Tech giant Apple's contract manufacturer Foxconn has plans to start manufacturing iPhone units at its proposed Devanahalli plant near here by April 2024 and the state government would hand over required land for the company by July 1 this year, Karnataka Large and Medium Industries Minister M B Patil has said. He stated this after a meeting with the representatives of the company who met him as part of a courtesy visit on Thursday. State IT/BT Minister Priyank Kharge was also present. With this, the new government has speeded up the process of the Rs 13,600 crore project that is expected to create 50,000 jobs, an official release said. "The identified 300 acres of land at ITIR (Information Technology Investment Region) of Devanahalli would be handed over by July 1, 2023. Along with this, the government would ensure providing 5 million litres per day (MLD) of water, quality power supply, road connectivity, and other infrastructure facilities," Patil said. "The company has been asked

Apple supplier Foxconn to make iPhones in Karnataka by April 2024

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

ISMC's semiconductor facility plan in India stalled after Tower-Intel deal

A second mega $19.5 billion plan to build chips locally by a joint venture between India's Vedanta and Taiwan's Foxconn is also proceeding slowly

Govt invites new applications for semiconductor manufacturing unit

Joint venture between Vedanta Resources and Foxconn reportedly denied benefits under state programme

Vedanta-Foxconn chip venture application for India funding to be rejected

Nine months after Agarwal announced the chip partnership to build India's "own Silicon Valley," the project is yet to find a technology partner or license manufacturing-grade technology

Mike Young to take charge as senior VP for Vedanta's semiconductor biz

His appointment comes at a time when Anil Agarwal-led Vedanta has been on an aggressive talent acquisition drive to attract leaders from the semiconductor industry globally

Foxconn lines up Rs 4,110 cr for new Hyderabad plant, 25,000 jobs likely

The factory's construction will be finished in nine months, and operations will start within a year

Vedanta-Foxconn JV set to get govt approval for its chip-making plant

VFSL is a joint venture between India's Vedanta Group and Taiwan's Hon Hai Precision Industry (Foxconn). The two have 63 and 37 per cent stake in the company, respectively

Apple to not make iPads, Mac PCs but may manufacture AirPods in India

This comes amid reports that the Cupertino-based tech giant may soon start producing all its major products in India

Apple supplier Foxconn to invest $500 mn in Telangana: IT Min KTR

The investment will create 25,000 jobs in the first phase, KT Rama Rao said in a tweet

Key Apple supplier Foxconn reports loss of 56% in Q1, outlook flat

In the first quarter of 2023, revenue totaled 1.4624 trillion Taiwanese dollars, up 4 per cent year-on-year

Apple partner Foxconn buys land in Bengaluru to expand production in India

Karnataka has reportedly encouraged Foxconn to invest in the state