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Showing posts with the label Foxconn

Foxconn Looks To Invest $5 Bn In India To Establish Manufacturing Hub Foxconn Looks To Invest $5 Bn In India To Establish Manufacturing Hub

Foxconn Is In Talks With State Governments Including Maharashtra, UP, Haryana Foxconn Technology Group is looking to  invest up to $5 Bn in India , to explore the possibility of establishing a manufacturing hub parallel to China. The Indian hub will be instrumental for export to markets across Europe and the US. A top official at the Taiwanese company told TOI that Foxconn will soon ramp up Indian operations in an “exponential manner.”  This move is powered by the implementation of GST, and the imposition of an import duty on mobiles phones . The levy of the duty and the tax combined will discourage sourcing goods  from China and other foreign locations. Last week, the government imposed a 10% customs duty on phones and key parts such as chargers, headsets, batteries and USB cables. This will give an impetus to investments in local manufacturing. The source further added, “India is already high on our priority list, and we now plan to step up investments and business he

Xiaomi Unveils Second Manufacturing Unit in India in Partnership With Foxconn

Reaffirming its commitment to 'Make in India' after logging $1 billion in revenue in the country last year, Chinese smartphone maker Xiaomi on Monday announced its second manufacturing unit in partnership with Taiwanese electronics major Foxconn in Andhra Pradesh. With the new manufacturing plant also at Sri City, in Andhra Pradesh, more than 95 percent of Xiaomi's smartphones sold in India will be manufactured in the country. Xiaomi will now have a combined production capacity of one phone per second during operational hours. "We are present in 20 markets globally but India tops in terms of volume and is also the fastest growing market for us. All eyes are on this market and we will continue to do what we are doing and provide great after sales service and experience for our users," Manu Jain, Vice President and Managing Director, Xiaomi India, told IANS. The company also launched Rs 5,999 Redmi 4A smartphone powered by Qualcomm Snapdragon 425 proc

Apple Manufacturing iPhones Locally Would Be A Fascinating Test For The Indian Economy

The idea that  Apple   AAPL -0.05%   might or should produce iPhones locally inside the Indian economy has been long discussed. From our point of view here, thinking about economics, it would actually be a fascinating test of the abilities, the sophistication, of that Indian economy. For the question would be whether there would be the creation of a supply chain capable of meeting the volumes and standards that Apple requires. The answer isn’t clear cut which is why the idea, if it goes ahead, will be such a fascinating thing to observe. The results from Brazil show that it’s not an easy thing to create, such a supply chain. There’s also a certain mordant humour to the idea. Over here in Europe everyone is shouting at Apple for the manner in which they dodge local taxation. And yet a decision to manufacture in India would at least partly be driven by the desire to dodge  local taxation : Price is also an important factor for Indian customers and should Apple begin to manufactu

Foxconn may soon manufacture iPhones in India: Reports

Reports suggest that Foxconn is in talks with the Indian Government to set up an iPhone manufacturing hub in Maharashtra. According to a recent report by ET Now, smartphone manufacturing giant Foxconn may be in talks with the Indian Government to manufacture iPhones in India. Foxconn is contracted by Apple to assemble iPhones, but the same is yet not happening out of Foxconn's manufacturing hub in Andhra Pradesh.  For manufacturing iPhones, Foxconn has reportedly proposed a $10 billion facility in Maharashtra and the company is seemingly scouting for around 1200 acres of land to set up the same. The report also reveals that Foxconn and the Central Government have agreed on Maharashtra for the location of this iPhone production facility.    Currently, Foxconn assembles Xiaomi, OnePlus and Gionee devices at its Sri City facility in Andhra Pradesh. We can't wait to see if manufacturing of the iPhone in India will drive down its exorbitant prices in the country. if that