Foxconn Plans To Double Workforce, Investment In India Within A Year
Portfolio Pulse from Benzinga Neuro
Apple Inc.'s supplier, Foxconn, plans to double its workforce and investment in India within a year. The company is expanding its presence in India as part of its strategy to shift away from China. Foxconn currently operates a factory in Tamil Nadu, India, that manufactures iPhones and employs 40,000 people. The company also plans to invest $600 million in two projects in Karnataka, India, for manufacturing iPhone casing components and chip-making equipment.
September 17, 2023 | 6:13 pm
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Apple's supplier, Foxconn, is planning to double its workforce and investment in India, which could potentially increase Apple's production capacity and reduce its reliance on China.
Foxconn's expansion in India could potentially increase Apple's production capacity and diversify its supply chain, reducing its reliance on China. This could have a positive impact on Apple's stock in the short term.
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