Apple supplier Foxconn plans to start manufacturing iPhones in Karnataka by April 2024, according to a statement by the state government.
What Happened? Per a Reuters report, the state government has committed to providing land for the factory to Foxconn by July 1. The project, which has a value of $1.59 billion (₹13,090 crore), could potentially create around 50,000 jobs.
Foxconn, the leading contract electronics manufacturer globally, aims to manufacture 20 million iPhones annually at this new facility located in Devanahalli, near Bengaluru, the state’s capital and tech hub.
Per a report from mid-April, Foxconn is also looking to establish a research and development (R&D) centre in Bengaluru's Whitefield, indicating its rapid capacity expansion in India. In March, Foxconn Chairman Young Liu marked his second visit to India in less than a year when he highlighted India as being key to the company’s longer-term vision.
It is worth noting that Apple has been gradually moving its production away from China. Strict COVID-related restrictions in China have disrupted the manufacturing of new iPhones and other Apple devices. Additionally, the iPhone maker is taking steps to protect its business from the ongoing political tensions between Beijing and Washington.
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Per a more recent report, Apple also plans on expanding its retail footprint in India over time, after the success of its first two flagship stores.
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