Foxconn says no ‘final’ deal for new iPhone plant in India

Foxconn says no ‘final’ deal for new iPhone plant in India

Taiwanese tech giant Foxconn confirmed Saturday that its president visited India, but denied reaching any “definitive agreement” to invest in new phone factories. iPhone Apple’s iPhone in that country as assured by local authorities.

Foxconn is the world’s largest electronics producer and the main manufacturer of the Californian brand’s phones which, in the same way as the Taiwanese company, is trying to diversify its production beyond China.

Curious visitors

The Taiwanese group said Saturday in a statement that its chairman Young Liu had visited. India between February 27 and March 4, but that the company “had not closed any binding and definitive agreements for new investments.”

“Negotiations and internal analysis are ongoing. The investment sums discussed in the media are not information published by Foxconn“, he added.

The day before, the leader of the Indian state of Karnataka, Basavaraj S. Bommai, had tweeted that “phones will soon be manufactured from Apple” on a new plant in his state, which would create “about 100,000 jobs.”

The office of the chief minister of neighboring Telangana state, Chandrashekar Rao, also tweeted that Liu had signed an agreement on Thursday to “start electronics production facilities.”

India as a production hub

Foxconnthe world’s largest manufacturer of iPhonehas been working for Apple since 2019 on Indiaat its plant located in the state of Tamil Nadu.

Two other Taiwanese companies, Wistron and Pegatron, also manufacture and assemble Apple at India.

Apple announced last September that it will manufacture its new iPhone 14 at India.

Despite all this, India currently accounts for less than 5 % of the production chain of Appleaccording to Bloomberg, behind the United States, China, Japan and five other countries (AFP).

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Kayleigh Williams