Foxconn signs $10 Billion deal to manufacture iPhones in India
Foxconn has signed a $10 Billion deal in to setup a manufacturing unit of iPhone in India. According to the reports, Apple and Foxconn have selected Maharashtra state and have also selected a 1,200 acre land.
It may take Foxconn around 18 months to build this facility and make it operational. And it will be used to manufacture iPhone for Indian and other markets.
This is not the first time Foxconn in coming to India. It used to have manufacturing in India for Nokia phones. But these facilities were shut down when it lost Nokia as it’s customer.
Earlier also, Foxconn had committed $5 Billion to be spent in next 5 years. In addition to this, Apple is also planning to open a Development center in Hyderabad, India.
The decision to invest in India is coming based on many recent developments. One such development is Indian government promoting the Make in India campaign – where Indian government is calling global manufacturers to manufacture in India.
Also, Indian government recently allowed Apple to sell it’s products directly in India through Apple Stores. Apple had applied last year.
Also, with China slowing down, Apple reporting it’s first time ever fall in iPhone sales and India becoming a hot cake for selling it’s devices, Apple is more than excited to set it’s foothold in India.