Latest news with #YuzhanTechnology
Time of India
5 days ago
- Business
- Time of India
Apple supplier Foxconn bets big on India, US; gets Taiwan approval to invest $2.2 billion; new factory in India to produce iPhones
Representative image Taiwanese electronics giant Hon Hai Precision Industry Co, globally known as Foxconn, has secured approval from Taiwan's ministry of economic affairs to invest over $2.2 billion in India and the United States, reported news agency ANI, citing Focus Taiwan. A major portion, $1.49 billion, will be routed through Foxconn's Singapore-based subsidiary into Yuzhan Technology (India) Private Ltd, another Foxconn entity. The capital will be used to establish a new manufacturing facility in India aimed at producing iPhones and their components. According to news agency PTI, the investment in Yuzhan Technology took place between May 14 and 19 and was made through Foxconn Singapore Pte. The firm acquired 9,999 shares at Rs 10 each, leading to a total investment of $1.489 billion (approximately Rs 12,800 crore). The unit is located in Tamil Nadu and forms part of Apple's broader effort to ramp up iPhone production in India. Experts view this as a strategic move by Foxconn to shift part of its supply chain out of China amid rising trade tensions with the US. India is steadily emerging as a critical manufacturing hub for Apple, which has plans to source the majority of iPhones sold in the US from India in the June quarter, while China will cater to other markets. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo Foxconn's expansion doesn't stop at India. It has also been cleared to invest $735 million to establish a US-based company named Project ETA (DE) LLC. The new unit will focus on producing data centre equipment and assembling servers. Currently, Foxconn operates 223 factories and offices across 24 countries, including 12 in India and 54 in the Americas. The company has also increased its global presence in regions such as Mexico, Vietnam, and Europe. The recent surge in Foxconn's India investments aligns with Apple's plan to produce around 60 million iPhones in the country this fiscal year. Indian government officials say India currently accounts for 15% of the global iPhone output. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Indian Express
23-05-2025
- Business
- Indian Express
Despite Trump frown, Apple to expand supply chain in India through $1.5 bn Foxconn plant
Days after US President Donald Trump said he had asked Apple's CEO Tim Cook to 'not produce in India,' the iPhone maker's key contract manufacturer, Foxconn, said it is moving forward with a $1.5 billion display module plant in India. Last October, the Tamil Nadu government had cleared the Rs 13,180 crore project by Yuzhan Technology in Kancheepuram, about 80 kilometres away from Chennai.
Russia Today
22-05-2025
- Business
- Russia Today
iPhone maker to invest $1.5 billion in India
iPhone maker Foxconn will invest $1.5 billion in India in attempt to mitigate tariff risks, the Taiwanese electronics manufacturer revealed in a London Stock Exchange filing. Foxconn's Singapore subsidiary will make this investment in its Indian subsidiary Yuzhan Technology India, according to the filing. Yuzhan Technology India, Foxconn's unit in the southern state of Tamil Nadu, currently manufactures electronic components and assembles Apple iPhones. Apple is increasing its presence in India by scaling up domestic manufacturing and expanding its local operations. Earlier this month, local media reported that Apple told India's Ministry of Communications that it planned to move the assembly of all iPhones to the country from China. The shift comes amid rising trade tensions between Washington and Beijing. Apple CEO Tim Cook reportedly confirmed the production shift during the company's quarterly earnings call, saying 'the majority of iPhones sold in the US will have India as their country of origin.' With more than 60 million iPhones expected to be sold annually in the US by end-2026, Apple would need to double production in India, according to media reports. The company assembles about 20% of its phones there; in the 12 months ending in March, these were worth $22 billion, a 60% increase. China, however, still accounts for roughly 80% of Apple's production capacity. Apple is considering India as a potential alternative manufacturing hub due to the tariffs which have been imposed by US President Donald Trump on China, which have led to concerns regarding supply chain disruptions and the possibility of higher iPhone prices. The California-headquartered company's purported plans to make more iPhones in India have prompted US President Donald Trump to recently advise Cook to avoid expanding the company's manufacturing operations in the South Asian country. However, establishing iPhone manufacturing in the US, where Apple lacks existing facilities, would require significant time and investment, analysts opined. 'It would potentially double prices and a $1,599 iPhone could reach $3,500 impacting consumer demand and Apple's market position,' Sonam Chandwani, a managing partner at KS Legal & Associates, told RT.
Entrepreneur
22-05-2025
- Business
- Entrepreneur
What Does Foxconn Investment In India Means
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Close to the heels of the Union Cabinet approving an HCL-Foxconn semiconductor joint venture (JV), which will set up an outsourced semiconductor assembly and test (OSAT) facility, at an estimated cost of INR 3,706 crore at Jewar in Uttar Pradesh, there is another major development. Foxconn, a primary partner of Apple in manufacturing iPhones and other gadgets, has announced the investment of INR 12,800 crore in India. This was declared in a Taiwan Stock Exchange filing. Foxconn's Singapore based subsidiary will be injecting these funds into the Indian company, Yuzhan Technology (India) Private Limited, a Tamil Nadu unit of Foxconn. Foxconn is an integral part of Apple's end to end value chain and the investments come close to Apple's announcement in India — where CEO Tim Cook confirmed that the majority of iPhones sold in the US in the June quarter would be sourced from India — while China would continue to cater to most other markets. Currently, around 16-17 percent of Apple's global iPhone production comes from India. This shows India as a promising market for China + 1 strategy. Currently, the majority of iPhones are manufactured in China and Apple is looking to diversify its supply chain. Moreover, the JV would be making display driver chips, key components of mobile phones, especially iPhones, and automobiles. "With an investment of INR 3,700 crore, the project brings large-scale advanced packaging and testing capabilities specifically for display driver ICs—addressing a critical gap in India's display and electronics value chain. This isn't just about building infrastructure—it reflects India's growing maturity in semiconductor manufacturing, with trusted partners, strategic intent, and industrial scale," said Ashok Chandak, President, IESA and SEMI India. Union minister Ashwini Vaishnaw has expressed optimism, stating that India hopes this partnership will eventually lead to Apple processors being made domestically. A report from the Financial Times revealed that Apple plans to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026. This move is part of Apple's response to escalating trade tensions and tariff pressures under US President Donald Trump's administration. However, India's ambition to become an iPhone manufacturing hub is in the ire of the US President. Speaking at a business event in Doha, Trump mentioned he told Apple CEO Tim Cook to stop producing iPhones in India. "My friend, I treated you very good…but now I hear you're building all over India…I don't want you building in India," the US President told Cook. Nevertheless, Cook has assured the Indian government that their India strategy remains unaffected. Since the COVID-19 pandemic and geopolitical tensions, many global manufacturers reevaluated their supply chains to mitigate risk. India is believed to have emerged as a key destination for manufacturing due to its market potential, flexible workforce, and increasing income levels. But this isn't enough. In order to meet its electronics ambition, the key challenges that India needs to focus on are infrastructure, a developed component supplier ecosystem, and a massive skilled workforce to cater to this developing ecosystem. Recently, the government announced the Electronics Component Manufacturing Scheme (ECMS), aimed at strengthening India's electronics manufacturing ecosystem.
Times of Oman
22-05-2025
- Business
- Times of Oman
Foxconn to invest $1.5 billion in its India operations
New Delhi: Apple supplier Foxconn is set to invest USD 1.5 billion in its India unit, Reuters reported, citing a company filing. The iPhone maker has been shifting more manufacturing out of tariff-hit China. As per the Reuters report, Foxconn's Singapore-based subsidiary will buy 12.77 billion shares worth 10 rupees apiece, amounting to 127.74 billion rupees (USD 1.50 billion) in Yuzhan Technology India. Yuzhan Technology India, Foxconn's unit in Tamil Nadu, manufactures electronic components and also assembles Apple's iPhones. Apple is positioning India as an alternative manufacturing base amid US President Donald Trump's tariffs on China, which have raised supply chain concerns and fears of higher iPhone prices, Reuters had reported last month. In March, according to the Reuters report, Apple ramped up India production, exporting around 600 tons of iPhones worth USD 2 billion to the US. As part of its Atmanirbhar and Make in India plan, the government launched production incentive (PLI) schemes in varied sectors, including electronics, to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain and reduce dependency on imports. Faced with supply chain disruptions, particularly since the COVID-19 pandemic hit in 2020 and subsequent flare-up of geopolitical tensions that continue, many leading global companies, particularly those in the manufacturing space, are diversifying their operations across regions. These visible trends of business diversification are basically to reduce risk and increase flexibility. Given India's political stability, huge market opportunity, dynamic workforce, and steady rise in income levels, it is being eyed as one of the best places to set up manufacturing bases. In 2017, Apple started manufacturing iPhones in India. The Production Linked Incentive (PLI) scheme by the Central government, among others, is likely to have attracted several gadget makers, including Apple, to set up shop in the country.
