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Foxconn to invest $1 billion in India to ramp up iPhone production

Foxcomm may be looking to invest $1 billion in an existing factory in India, sources cited by Reuters state. The expansion of the plant near Sriperumbudur will take three years to complete and will result in the opening of 6,000 new jobs.

iPhone XR (right) will be joined by other models once the factory gets expandediPhone XR (right) will be joined by other models once the factory gets expanded

Apple’s requested that Foxconn shift some of the iPhone’s production outside of China in order to be more flexible in the event of an escalation of the US-China trade conflict, the sources say. The factory in the southern part of India is where Foxconn makes iPhone XRs now. The plans are for other models to also be manufactured there post the expansion.

Neither company has confirmed the reports and Reuters sources remain unnamed.

Source

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