Apple Supplier Foxconn To Invest $1 Billion In India.
Apple has some ambitious plans in India, as the company has already confirmed that it will open the first Apple Store there by 2021.
AN IPHONE MANUFACTURING COMPANY
Foxconn plans to invest up to $1 billion to expand a factory in Sriperumbudur, Tamil Nadu where the Taiwanese contract manufacturer assembles Apple iPhones, two sources said.
A part of a quiet and gradual production shift by Apple away from China as it navigates disruptions from a trade war between Beijing and Washington and the coronavirus crisis.
The plan of investing in India is touted to be Apple’s move to shift iPhone production away from China and hence reduce its dependence on the country, in the wake of the rising tensions between the US and China. Reuters has reported that there is a strong request from Apple to its clients to move part of the iPhone production out of China.
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