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iPhone Maker Foxconn To Invest Additional $1.7 Billion In Karnataka

By: MiixSephora

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Foxconn can be anticipated to begin manufacturing iPhones in Karnataka by April 2024 (Representational)

Apple provider Foxconn plans to take a position a further 139.11 billion rupees ($1.67 billion) in Karnataka, the state authorities mentioned in an announcement on Tuesday.

The Taiwan-based firm, which assembles round 70% of iPhones and is the world’s largest contract producer, has been diversifying manufacturing away from China following COVID-19 disruptions and geopolitical tensions.

It has quickly expanded its presence in India over the previous 12 months by investing closely in manufacturing amenities within the south India.

In Karnataka itself, the corporate introduced in August an funding of $600 million in two tasks to make casing parts for iPhones and chip-making tools.

Foxconn can be anticipated to begin manufacturing iPhones in Karnataka by April 2024 – a undertaking anticipated to create round 50,000 jobs.

The authorities didn’t elaborate on the most recent plans for the extra funding in Karnataka, and Foxconn didn’t instantly reply to an electronic mail looking for remark.

(Except for the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)

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