Apple assembler Foxconn buys huge site in India tech hub appeared first on MacDailyNews. Apple assembler Foxconn buys huge site in India tech hub appeared first on MacDailyNews. Apple assembler Foxconn buys huge site in India tech hub appeared first on MacDailyNews. Apple assembler Foxconn buys huge site in India tech hub appeared first on MacDailyNews.
Major Apple assembler Foxconn has bought a huge tract of land on the outskirts of Indian tech hub Bengaluru, the company said in a filing Tuesday as it strives to

Major Apple assembler Foxconn has bought a huge tract of land on the outskirts of Indian tech hub Bengaluru, the company said in a filing Tuesday as it strives to diversify production away from CCP-controlled China.

The logo of electronics contract manufacturer Foxconn Technology Group, formally known as Hon Hai Precision Industry, is displayed at its headquarters in Taipei. Photo: Agence France-Presse
The logo of electronics contract manufacturer Foxconn Technology Group, formally known as Hon Hai Precision Industry, is displayed at its headquarters in Taipei. Photo: Agence France-Presse

Aishwarya Kumar and Sean Gleeson for AFP:

Also known by its official name, Hon Hai Precision Industry, Foxconn is the world’s biggest contract electronics manufacturer and a principal assembler of Apple iPhones.

Both companies are seeking to shift manufacturing away from China after strict Covid policies, a bout of industrial unrest and ongoing diplomatic tensions with the United States hurt production.

The 1.2 million-square-metre (13 million-square-foot) acquisition in Devanahalli, near the airport for Bengaluru, was announced in a statement to the London Stock Exchange.

It said that subsidiary Foxconn Hon Hai Technology India Mega Development was paying three billion rupees ($37 million) for the site, the size of more than 50 Manhattan city blocks.

MacDailyNews Take: The CCP’s lunacy is India’s gain.

MacDailyNews Note: iPhone models are currently assembled in India by Foxconn and Pegatron in Tamil Nadu and Wistron in Karnataka.

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