Apple assembler Foxconn to invest $1.5 billion in India

The logo of electronics contract manufacturer Foxconn Technology Group, formally known as Hon Hai Precision Industry, is displayed at its headquarters in Taipei. Photo: Agence France-Presse
Foxconn, a major Apple assembler, will invest $1.5 billion in its India unit to expand iPhone manufacturing outside U.S. tariff-impacted China, the company announced in a filing. Its Singapore subsidiary will purchase 12.77 billion shares at 10 rupees each, totaling 127.74 billion rupees ($1.50 billion) in Yuzhan Technology India, per the London Stock Exchange filing.
Reuters:
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Yuzhan Technology India, Foxconn’s unit in Tamil Nadu, manufactures electronic components and also assembles Apple’s iPhones.
Apple is positioning India as an alternative manufacturing base amid U.S. President Donald Trump’s tariffs on China, which have raised supply chain concerns and fears of higher iPhone prices, Reuters reported last month.

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MacDailyNews Take: Too much production centered in China is a glaring risk that is finally, belated being meaningfully mitigated.

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