- Foxconn will invest more than $600 million in India as part of a mobile phone manufacturing project, as well as a separate semiconductor equipment facility.
- Foxconn is one of the world’s largest contract electronics manufacturers. Best known as Apple’s main assembler for his iPhone.
- But as India seeks to bring high-tech manufacturing home, the company is looking to diversify beyond China.
A Foxconn logo displayed on a mobile phone screen and an Apple logo on a laptop can be seen in this illustrative photo taken in Krakow, Poland, on November 2, 2022.
Jakub Porzycki | Null Photo | Getty Images
Foxconn will invest more than $600 million in India as part of a mobile phone manufacturing project, and will also invest in a separate semiconductor equipment facility, according to the Karnataka government.
and Tweet Karnataka Commerce Minister M.B. Patil said Wednesday that Taiwanese companies and US semiconductor firm Applied Materials have invested more than $360 million in a mobile phone housing component plant and about $240 million in semiconductor equipment manufacturing projects. said it has committed to invest in
Patil said the phone project will create 12,000 job opportunities and the semiconductor facility will create 1,000 jobs.
Foxconn is one of the world’s largest contract electronics manufacturers. The company is best known for being the primary assembler of his iPhone for Apple, but the company is looking to diversify both geographically and in its product portfolio.
Foxconn’s main business is in China, where it operates the world’s largest iPhone factory. However, India is pushing for domestic adoption of high-tech manufacturing and is a target of Foxconn’s expansion plans.
Meanwhile, the company is stepping up efforts to establish itself as an electric vehicle maker to diversify beyond consumer electronics. Foxconn has also tried to get into the semiconductor manufacturing space, with little success so far.
Foxconn has agreed with Indian metal-oil conglomerate Vedanta to set up a semiconductor and display manufacturing plant in India as part of a $19.5 billion joint venture. But Foxconn pulled out of the business last month.
Foxconn declined to comment on its Karnataka investment when contacted by CNBC. Applied Materials could not be reached for comment.
Under Prime Minister Narendra Modi, India is trying to establish itself as a hub for advanced technology, especially semiconductors. Modi attended a semiconductor event in India last week, which was also attended by executives from major US semiconductor companies such as Applied Materials and AMD. Foxconn Chairman Young Liu was also present as companies praised India and announced investments.
