After winning Apple contract, Foxconn to build factory in India

Robert Besser
19 Mar 2023, 23:02 GMT+10

After winning an order to manufacture wireless AirPods earphones for Apple for the first time, Taiwanese company Foxconn is planning to build a factory in India.
As AirPods are currently made by various Chinese suppliers, the deal between Apple and Foxconn highlights the overall direction to shift production away from China.
Foxconn Interconnect Technology Ltd., a subsidiary of the company, aims to construct a manufacturing plant in Telangana in the second half of 2023, which is to begin production by the end of 2024.

TAIPEI, Taiwan: Reuters reported that after winning an order to manufacture wireless AirPods earphones for Apple for the first time, Taiwanese company Foxconn is planning to build a factory in India.

As AirPods are currently made by various Chinese suppliers, the deal between Apple and Foxconn, the world's largest contract electronics maker and assembler of some 70% of all iPhones, highlights the overall direction to shift production away from China.

Foxconn will invest more than $200 million in the new India AirPod plant in the southern state of Telangana, the report said, adding that for some months, Foxconn officials had debated whether to assemble AirPods due to their relatively lower profit margins, but decided to do so as the deal will "reinforce engagement" with Apple.

Foxconn and fellow Taiwanese rivals, such as Wistron and Pegatron, are in competition to win more orders from Apple, the world's most valuable company.

Foxconn Interconnect Technology Ltd., a subsidiary of the company, aims to construct a manufacturing plant in Telangana in the second half of 2023, which is to begin production by the end of 2024.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Travel Trade.

More Information

30 ℃

Mostly Cloudy in Seletar

Business

Section

Techs jump in widespread U.S. stock markets advance

NEW YORK, New York - Wall Street continued its advance on Tuesday as investors continued to weigh up the health ...

US says citizens not to buy meds in Mexico, many contain fentanyl

WASHINGTON D.C.: The US State Department has issued a travel warning regarding dangerous fake pills sold at pharmacies in Mexico, ...

Mercedes modernizing EV plants in China, Germany, Hungary,

FRANKFURT, Germany: The German Automobilwoche magazine has reported that as part of its efforts to switch to selling electric vehicles ...

Banks rebound lifting U.S. stock markets, Nasdaq gains 45 points

NEW YORK, New York - U.S. stocks rallied on Monday following the weekend buy-in of Credit Suisse by UBS, which ...

US loans $300 billion to banks following closing of SVB bank

WASHINGTON D.C.: The US Federal Reserve Bank has announced that cash-strapped banks throughout the US borrowed some $300 billion during ...

Deloitte agrees to pay $31 mln fine to China after mistakes in audit

BEIJING, China: Following the inability of China Huarong Asset Management Co Ltd to release financial reporting obligations in 2020, China ...

Airlines

Section