Foxconn Industrial Internet (FII), a subsidiary of Foxconn, plans to build a facility in the state of Tamil Nadu, India by next year. The move will actively expand Foxconn’s presence in the country, significantly contributing to its overall revenue, of which FII generates about one-third.
Why it Matters? FII manufactures components for Apple, Amazon, Lenovo, Huawei, and Dell among others.
Per an ET report, FII CEO Brand Cheng and other top officials recently met with Tamil Nadu’s chief minister, MK Stalin. The team showed “strong interest” and is currently evaluating the opportunity.
An initial investment of around $200 million (₹1,640 crore) is expected, potentially generating about 5,000 jobs.
See also: Stop With The Password Sharing! Netflix Renews Crackdown In India
Growing its Presence: Foxconn, known for being the world’s largest contract manufacturer for Apple, already has large facilities in Tamil Nadu. For instance, it exclusively manufactures iPhones for Apple in a facility in Sriperumbudur, near Chennai. Another Foxconn entity, Bharat FIH, makes Xiaomi phones in a separate facility.
FII operates in five digital economy sectors: cloud and edge computing, industrial internet, smart home, 5G and network communication devices, smartphones, and smart wearable devices. The company, which currently does not have a presence in India, has facilities in 12 countries and regions across Asia, Europe, and North America.
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