For its Indian business, Foxconn bought more than 200 million yuan of equipment from Apple.
Beijing time on July 18 news, documents show that in the past year, Foxconn for its Indian business from a subsidiary of Apple's major customers to buy about 33 million US dollars worth of machinery and equipment (about 240 million yuan), marking Foxconn is accelerating expansion in India.
Apple already makes iPhones in India Foxconn's Indian subsidiary purchased the machines from Apple Operations Ltd for $33,274,322.30, according to regulatory filings filed with the China Taiwan Stock Exchange by Foxconn parent Hon Hai Precision. The equipment will be used to meet the operational needs of Foxconn's India operations.
Since it is difficult to understand Foxconn's dealings with Apple, its biggest customer, the document provides a rare opportunity. To help Foxconn make most of the world's iPhones, Apple sometimes subsidizes Foxconn's purchases of machinery.
Rajeev Chandrasekhar, India's science minister, said in May that Apple intended to increase electronics production in India. The announcement comes a month after Apple CEO Tim Cook reiterated his commitment to invest in India during a meeting with Indian Prime Minister Narendra Modi.
Apple tripled iPhone production in India last fiscal year, assembling more than $7 billion worth of iPhones in India, or nearly 7 percent of its total phone production. Foxconn also plans to invest about $700 million to build a new factory in Karnataka state in southern India, partly to boost production of iPhone parts locally.
But Foxconn has also suffered setbacks in India. Earlier this month, Foxconn announced it was pulling out of a $19.5 billion chip manufacturing joint venture in India because it was not moving fast enough and there were other "challenging differences that could not be successfully overcome." People familiar with the matter said that one of the reasons for Foxconn's withdrawal was fear that India would delay approving financial incentives for the plant. However, Foxconn is also actively negotiating with several local and international partners to build semiconductor production plants in India using mature chip manufacturing processes to produce chips for products such as electric vehicles.
