TAIPEI (Taiwan News) — Foxconn Technology, the primary supplier of Apple, plans to invest US$500 million (NT$15.76 billion) in two components factories in the Indian state of Karnataka, reports said Tuesday (Aug. 1).
The plan is meant to help diversify production capabilities to avoid a negative impact from trade and technology disputes between the United States and China, where Foxconn runs massive factory complexes, Bloomberg reported. The media report follows a trip to India by Brand Cheng (鄭弘孟), the CEO of Foxconn subsidiary Foxconn Industrial Internet (FII).
At least one of the two new plants in Karnataka will manufacture components for iPhones and other Apple Inc. products. Neither Apple nor Foxconn confirmed the reports, and no specific location for the factories has been provided.
Foxconn, which is also known as Hon Hai Precision Industries, on Tuesday denied reports of a deal with Tamil Nadu, another southern Indian state, according to Reuters. Earlier reports on Monday (July 31) said the company was planning to invest 16 billion rupees (NT$6.13 billion) in a smartphone factory likely to create 6,000 job opportunities, per CNA.
