Foxconn continues to diversify its production by moving part of its production capacity from China to other Asian countries. According to Reuters, the company plans to double its investment and the number of employees in India over the next 12 months.
Foxconn’s representative in India, Wee Li, wrote about this in a LinkedIn post in honor of the 73rd birthday of Indian Prime Minister Narendra Modi. He noted that the company “aims to double its employment, FDI (foreign direct investment), and business size in India once again in a year.”
Foxconn already has an iPhone factory in Tamil Nadu that employs 40 thousand people.
In August 2023, the state of Karnataka announced that Foxconn would invest $600 million in two projects to produce iPhone case components and chip manufacturing equipment.
Foxconn CEO Liu Yang-Wei said at a briefing last month that he sees great potential in India, adding, “A few billion dollars of investment is just the beginning.”
As a reminder, in August 2023, Foxconn’s factory in Sriperumbudur started production of the Apple iPhone 15. Even earlier, Apple planned to start production of Apple Watch and MacBook in Vietnam.