IPhone maker Hon Hai plans US$1.6 billion in India expansion bidBloombergIPhone maker Hon Hai Precision Industry Co (鴻海精密) plans to expand its footprint in India with another NT$50 billion (US$1.6 billion) investment for construction projects. The news comes as Hon Hai, also known as Foxconn Technology Group (富士康科技集團), and other Taiwanese electronics manufacturers continue to diversify their businesses outside of China as tensions rise between Washington and Beijing. The company has been making iPhones and other products in India for several years, including the latest iPhone 15. In September, a Foxconn representative in India said on LinkedIn that the Taiwanese company plans to double the size of its business in the South Asian country. Foxconn already operates nine production campuses and more than 30 factories employing tens of thousands of people in India, where it takes in around $10 billion of revenue annually.

Source: Taipei Times November 27, 2023 17:05 UTC