Foxconn injects $1.5bn in India unit amid Trump remark
Chennai: Amid US President Donald Trump’s recent criticism of Apple’s plans to make iPhones in India, Foxconn has infused $1.5 billion (Rs 12,800 crore approximately) in its Indian subsidiary Yuzhan Technologies, which assembles iPhones at a facility near Chennai.
Yuzhan Technologies, a Foxconn subsidiary in India assembles iPhone display modules and reportedly also assembles iPhones at its facility near Chennai. The Tamil Nadu cabinet last year approved Rs 13,000 crore investments by Yuzhan Technologies, which is expected to bring about 14,000 employment. The development comes after President Trump recently said he’s not interested in Apple building manufacturing in India to cater to the US market and urged the company to make the smartphones in domestic facilities. India contributes around 15%- 16% of Apple’s global iPhone production.
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Yuzhan Technologies, a Foxconn subsidiary in India assembles iPhone display modules and reportedly also assembles iPhones at its facility near Chennai. The Tamil Nadu cabinet last year approved Rs 13,000 crore investments by Yuzhan Technologies, which is expected to bring about 14,000 employment. The development comes after President Trump recently said he’s not interested in Apple building manufacturing in India to cater to the US market and urged the company to make the smartphones in domestic facilities. India contributes around 15%- 16% of Apple’s global iPhone production.
Stay informed with the latest business news, updates on bank holidays and public holidays.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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