Foxconn invests $600 million in chip and phone production in India

Taiwan's Foxconn will invest $600 million as part of a phone manufacturing and semiconductor equipment plant project in India.

Foxconn invests heavily in India in an effort to diversify its manufacturing footprint.

According to information from MB Patil, the person in charge of commerce of Karnataka state, posted on Twitter that Foxconn and Applied Materials - an American chip company - committed to invest more than 360 million USD in a phone casing component factory and about 240 million USD in a semiconductor equipment manufacturing project.

According to Mr. Patil, the phone project will create 12,000 jobs and the semiconductor factory will provide employment opportunities for 1,000 people in the country.

Foxconn, Apple's largest iPhone assembler and one of the world's largest contract electronics manufacturers, is best known for assembling iPhones but is looking to diversify its product portfolio and manufacturing locations. Foxconn operates primarily in China, home to the world's largest iPhone factory. India is part of the company's expansion plans.

Foxconn is also stepping up efforts to become an electric vehicle manufacturer, moving away from its reliance on consumer electronics. Apple’s largest iPhone assembler has also dabbled in semiconductors, but with limited success.

Under Prime Minister Narendra Modi, India is looking to transform itself into a high-tech hub, especially in semiconductors. Last week, Modi attended a domestic semiconductor event that included Foxconn Chairman Young Liu, along with executives from major US chipmakers such as Applied Materials and AMD.

Source: https://baoquocte.vn/foxconn-dau-tu-600-trieu-usd-cho-san-xuat-chip-va-dien-thoai-o-an-do-237120.html