Apple strengthens manufacturing in India! Foxconn plans to roll out 25-30 million iPhones, more than double of last year
"Last year, the company assembled about 12 million iPhones in India," a source told ET. "But with their Bengaluru facility also coming up quickly, they have set their ambitions a lot higher, in line with Apple's push to deepen their presence in India."
As Apple diversifies away from China, Foxconn's operations in India have experienced substantial growth. The Taiwanese organisation has increased its investments in mobile assembly within the country, with further expansion anticipated as Apple strengthens its presence in India.
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"The trial runs are the first phase… ," according to the person cited above. "(the trial runs are) to see if the plant is able to produce the phones at the scale required and without any compromise on Apple's stringent quality standards," said the person.
After successful completion of trial runs, Foxconn can proceed to the 'revenue build' stage, during which the manufactured phones will be ready for distribution. Starting shipments from the Bengaluru unit will serve as a crucial element in reaching Foxconn's intended production objectives.
"According to our investigation, Foxconn, driven by Apple, is likely to increase its production in India this year significantly," stated Lori Chang, senior analyst at Taipei-based Isaiah Research.
Isaiah Research projections indicate that Foxconn aims to manufacture 25-30 million iPhones in India by year-end. This represents a substantial increase from the previous year's shipments of 10-15 million iPhones from India, according to their data.
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Foxconn's main priority continues to be iPhone manufacturing, says Chang. He anticipates an increase in India’s production share from the previous year's goal of 12-16% to 21-25% in the current year. In alignment with Apple's vision, Foxconn aims to strengthen its partnership, focusing primarily on expanding its manufacturing presence in India.
Foxconn is developing a 300-acre facility in Bengaluru, set to become its second-largest after China. Additionally, the company has established a new unit in Hyderabad for AirPods production, expanding Apple's product range in India. These complement their substantial iPhone assembly operations at the Sriperumbudur campus near Chennai.
During his India visit in August last year, Foxconn chairman Young Liu emphasised the company's intention to expand beyond smartphones. The organisation aims to develop products across various sectors including information and communication technology (ICT), electric vehicles (EVs), energy and digital health.
Liu stated during the inauguration of their industrial housing project in Sriperumbudur, "We want to move up the value chain as much as we can in India. That's what we will be doing in the ICT sector. For sectors other than ICT, we think EVs and energy and also the digital health industry, like wearables for personal use, home use type of medical devices."
Following the dissolution of its semiconductor partnership with the Vedanta Group, Foxconn has announced a £37.2 million investment to establish a chip packaging and testing facility in India alongside HCL Group. According to recent reports, the HCL-Foxconn venture anticipates imminent approval for its plant and has initiated discussions with engineering, procurement and construction firms, including Larsen & Toubro and Taiwan's CTCI.
Top 10 richest persons in the world 2025: Who is the richest person in the world? Does any Indian feature in the list of the top 10 richest persons in the world for 2025? Hurun has released its latest Global Rich List for 2025 and Tesla and Space X owner Elon Musk has topped it yet again as the world’s richest person! Interestingly, Google co-founder Sergey Brin has reclaimed his position in the top 10 richest in the world list, displacing Reliance Group’s Mukesh Ambani! The combined wealth of the top 10 richest people in the world has now reached $2.1 trillion! We take a look at the top richest people in the world in 2025 as per the Hurun list:
Top 10 richest persons in the world: Elon Musk, at age 53, has regained his position as the world's wealthiest individual for the fourth time in five years! Elon Musk’s net worth has crossed the $400 billion wealth threshold. His net worth experienced a remarkable increase of $189 billion or 82%, largely due to the 'Trump effect' on Tesla's share value, said the report.
However, after January 15 2025, Musk's fortune has decreased by approximately $100 billion, influenced by his Doge investments, political activities, and rising competition from Chinese manufacturers affecting Tesla's market performance. Nevertheless, he maintains a substantial lead as the world’s richest person in 2025. (AP Photo)
Jeff Bezos, aged 61, ranks second on the list of the world’s top 10 richest persons. He has maintained his position at number two with $266 billion net worth with a 44% increase. His wealth expansion was largely attributed to Amazon's rising share value, as investors responded positively to the company's reduced operational expenses and its developments in artificial intelligence and cloud computing services. (AFP Photo)
Meta's CEO Mark Zuckerberg, aged 40, is third on the world’s richest persons list with a net worth of $242 billion, which is an increase of $84 billion. His remarkable rise in wealth stems from investors' positive outlook towards Meta's artificial intelligence capabilities and technological infrastructure. Throughout the previous year, Zuckerberg garnered significant attention for his intensive physical training programmes. (AFP Photo)
Larry Ellison, aged 80, is the world’s fourth richest person. He has advanced one position with a net worth of $203 billion, seeing an increase of $59billion, following Oracle's expansion of artificial intelligence-enhanced cloud services and its collaborative business ventures. (Image: Facebook)
Warren Buffett, aged 94, maintained his position in the Top 5 wealthiest persons with a fortune of $167 billion, an increase of $23 billion. Despite his substantial wealth, he continues to lead a simple lifestyle, the report says. He has pledged to give away more than 99% of his fortune and has already donated over $60 billion, mainly through the Gates Foundation and his children's charitable foundations.
Top 10 richest persons in the world: Larry Page, aged 51, advanced three positions in the top 10 wealthiest individuals rankings to the 6th position, with his net worth increasing by 33% to reach $164 billion. This substantial growth was largely attributed to Alphabet's share value climbing by 33%. (AP Photo)
Bernard Arnault, aged 75, often referred to as the 'Luxury King', is the world’s 7th richest person. He experienced a substantial financial setback of $18 billion, which resulted in his descent to the seventh position with a net worth of $157 billion. The decline occurred as LVMH shares faced persistent pressure due to China's economic sluggishness, political instability in France, and growing resistance towards luxury consumption. (AFP Photo)
Steve Ballmer ranks 8th on the list of the world’s top 10 richest persons. Aged 68, Ballmer climbed to the eighth position with his net worth increasing by 10 per cent to $156 billion. His substantial wealth continues to be predominantly tied to his Microsoft shareholdings.
Sergey Brin, aged 51, advanced two positions to secure a place in the Top 10 richest persons list, as his net worth increased by 30% to $148 billion. This substantial growth primarily resulted from the considerable appreciation in Alphabet's share value. He has demonstrated notable charitable commitment, contributing $200 million towards climate-focused initiatives in the previous year. (AFP Photo)
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