Apple Supplier Foxconn Will Reportedly Invest $500 million in Telangana

Foxconn is the world’s largest electronics maker and assembler of around 70 percent of all iPhone models. According to the latest reports, Apple supplier Foxconn will invest $500 million to set up manufacturing plants in the southern Indian state of Telangana. It was told by the state’s IT minister on Monday. The good piece of information is that this investment will create 25,000 jobs in the first phase according to K.T. Rama Rao.

Apple Supplier Foxconn New Investment Will Create 25000 Jobs

Let me tell you that Foxconn also won an order to make AirPods for Apple. Moreover, it planned to build a factory in India to manufacture the products. It would not be wrong to say that the deal will see Foxconn become an AirPods supplier for the first time. This investment will also underline efforts by the key Apple supplier to further diversify production away from China as AirPods are currently made by a range of Chinese suppliers.

In addition to that, Foxconn received approval from the Karnataka government for a $968 million investment in the state in late March. The company revealed in March that it aimed to ramp up investment outside of China. The company made efforts to attract automakers to its contract manufacturing business, after declaring weaker demand for consumer electronics.

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