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Foxconn to invest $500 million in India for two new components factories

Foxconn to invest $500 million in India for two new components factories
Written by Techbot

Foxconn, Apple’s main supplier, plans to invest nearly $500 million to construct two component factories in Karnataka, India, as reported by Bloomberg on Monday, citing sources familiar with the matter. At least one of Foxconn’s planned factories is intended to produce Apple parts, including iPhones, according to the report. A formal announcement is expected as early as this week, although the exact locations of these new factories are yet to be determined. In March, Foxconn reportedly revealed plans to spend $700 million on building a factory near Bangalore, the capital of Karnataka. With the addition of these three new plants, Foxconn’s total investment in Karnataka reaches $1.2 billion, signifying a significant move in expanding its supply chain. [Bloomberg]

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