Foxconn invests Rs 12,800 crore in Tamil Nadu unit, company will increase iPhone manufacturing
Foxconn, the company that makes iPhones for Apple, has invested $1.48 billion (about Rs 12,800 crore) in its Indian unit in the last 5 days. The company said in a notice to the stock market that Foxconn has invested in the Tamil Nadu unit, Yujan Technology (India) Private Limited, through its Singapore-based unit. This investment has been made between May 14 and May 19. This latest investment by Foxconn has been made amid Apple’s plans to increase iPhone manufacturing in India.
Made in India iPhones will be sold in America
Apple CEO Tim Cook recently said that most of the iPhones sold in the US in the June quarter will be made in India, while China will manufacture most of the Apple iPhones for other markets amid uncertainty over US tariffs. Apart from this, most of the iPads, Macs, Apple Watches and AirPods going to the US will be produced in Vietnam. Let us tell you that Taiwan’s Foxconn, India’s Tata Electronics and Taiwan’s Pegatron India (Tata Electronics has 60 percent stake) manufacture Apple iPhones in India.
Trump is refusing Tim Cook to manufacture iPhones in India
US President Donald Trump had reached Qatar just a few days ago. Trump had made a big statement about Apple and India in a program organized in Doha, the capital of Qatar. Trump had told in the program that he had talked to Apple CEO Tim Cook and refused him to manufacture Apple iPhones in India. Trump had said that India is performing very well and it can take care of itself. Trump had asked Tim Cook to manufacture iPhones in America itself. However, Apple is working on its pre-determined plan.
