Hon Hai to spend 128.2 billion rupees to build a new factory in India
According to CTOnews.com news on November 27, Hon Hai issued an announcement this evening to build a plant on behalf of Foxconn Hon Hai Technology India Mega Development Private Limited, an Indian subsidiary, with an estimated investment of 128.209 billion Indian rupees (CTOnews.com Note: currently about 10.9989 billion yuan). It is speculated that the move may be to expand iPhone capacity in India.
Tuyuan Pixabay Hon Hai currently has an iPhone production plant in the southern Indian state of Tamil Nadu, employing 40, 000 people. Meanwhile, the government of the southern Indian state of Karnataka announced in August that Hon Hai would invest $600m in two plans in the state to produce iPhone shell components and chip manufacturing equipment.
Guo Mingyi, an analyst at Tianfeng Securities, previously said that India will account for 12-14 per cent of global iPhone production in 2023 and is expected to increase to 20-25 per cent in 2024. At the same time, Apple plans to launch the new product introduction (NPI) of the standard version of iPhone 17 (released in the second half of 2025) in India in the second half of 2024, indicating that Apple is paying more and more attention to the Indian market.
