Foxconn is reportedly considering investing around $1 Bn (INR 8,354 Cr) for setting up a smartphone display module assembly plant in Tamil Nadu
This will be the first such facility to be set up by the company in India, from where it plans to primarily cater to Apple for the iconic iPhone
Sources revealed that even as it has no fixed timeline, Foxconn wanted the facility up and running ‘as soon as possible’
Taiwanese electronics manufacturer Foxconn is reportedly considering investing around $1 Bn (INR 8,354 Cr) for setting up a smartphone display module assembly plant in Tamil Nadu.
As per ET, this will be the first such facility to be set up by the company in India, from where it plans to primarily cater to Apple for the iconic iPhone.
However, Foxconn’s model is going to be one wherein even other contract manufacturers—Pegatron or Tata Electronics, for instance—can use components from this unit rather than import modules that are assembled in China, the report cited sources familiar with the matter.
The sources also said that even as it has no fixed timeline, Foxconn wanted the facility up and running ‘as soon as possible.’
The plans of investment comes a month after Foxconn chairman Young Liu said that the Taiwanese electronics manufacturer has invested $10 Bn in India so far, and has plans to infuse more capital in the country in the coming year.
The electronics manufacturing major, in the past quarter, has considered diversifying beyond phones, where it was planning to manufacture artificial intelligence servers at its facilities in India, in late June.
The Apple supplier was also looking to assemble iPads in the country at its Tamil Nadu’s Sriperumbudur facility, in July.
Meanwhile, Apple supplier Jabil was also in plans to invest INR 2,000 Cr to build an electronics manufacturing facility in Tamil Nadu’s Trichy, earlier this month.
Earlier this week, SiliconAuto, a joint venture formed between Foxconn and auto giant Stellantis, set up a semiconductor research and development (R&D) centre in Bengaluru.
