Shulou(Shulou.com)11/24 Report--

CTOnews.com, Dec. 8 (Xinhua) Foxconn is increasing its investment in India as part of a plan to expand its smartphone production capacity in India. Foxconn manufacturers are investing an additional $500m (3.485 billion yuan) in its Indian operations to expand its factories in the South Asian market.

The market is becoming more and more important to Apple, and it is slowly becoming a key hardware center. In a filing with the Taiwan stock exchange on Thursday, Foxconn said its Singapore subsidiary Foxconn Singapore Pte Ltd was funding its Foxconn Hon Hai Technology IndiaMega Development Private Limited.

According to Taiwan's Economic Daily, market analysis, Hon Hai's capital increase in India is needed to expand the production line of iPhone 14 at the Chennai plant in India.

Hon Hai also increased its stake in FoxconnHon Hai Technology India Mega Development PrivateLimited in India through its subsidiaries at the end of December last year, with a capital increase of US $350 million (about RMB 2.439 billion). At that time, the market speculated that it was needed to expand the production line of iPhone 13 at Hon Hai's Chennai plant in India.

In 2017, Apple began making iPhone and iPhone SE phones in India. Three years later, in 2020, Apple began producing iPhone 11 phones in India, marking the first production of a high-end iPhone in India. Another important milestone was in 2022, when Foxconn India began producing iPhone 14 phones, the first global release of the latest iPhone model in India in the same calendar year.

CTOnews.com learned that Apple plans to transfer 5 per cent of global iPhone 14 production to India by the end of 2022 and expand its manufacturing capacity in India to 25 per cent of all iPhone production by 2025, according to a September report by JPMorgan analysts.

In addition to increasing production capacity in India to meet the growing demand of the local market, Apple also plans to supply Indian-made products to the global market.

In addition, producing products in India will enable Apple to take advantage of the country's large and skilled workforce, which will help increase its production capacity and better meet the needs of its global customers.

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