Foxconn Technology Group has purchased $33 million worth of equipment from an Apple unit for its operations in India over the past year, indicating the iPhone assembler’s growing expansion in the country.
An Indian subsidiary of the Taiwanese company acquired equipment from Apple Operations Ltd. for operational needs, according to a filing from Foxconn’s Taipei-listed flagship unit Hon Hai Precision Industry Co.
The filing provided a rare glimpse into Foxconn’s relationship with its largest customer, which sometimes helps finance the cost of equipment that the Taiwanese company uses to manufacture the majority of the world’s iPhones.
In May, minister of state for technology Rajeev Chandrasekhar stated that Apple is interested in increasing electronics production in the country, a month after the US company’s Chief Executive Officer Tim Cook reiterated a commitment to invest in the region during a meeting with Prime Minister Narendra Modi.
Apple Inc. tripled iPhone production and assembled over $7 billion worth of iPhones in India last fiscal year, producing nearly 7% of its devices in the country. Meanwhile, Foxconn plans to invest approximately $700 million in building a new plant in the southern Indian state of Karnataka, partly to increase local production of iPhone components, as reported by Bloomberg News.
An Indian subsidiary of the Taiwanese company acquired equipment from Apple Operations Ltd. for operational needs, according to a filing from Foxconn’s Taipei-listed flagship unit Hon Hai Precision Industry Co.
The filing provided a rare glimpse into Foxconn’s relationship with its largest customer, which sometimes helps finance the cost of equipment that the Taiwanese company uses to manufacture the majority of the world’s iPhones.
In May, minister of state for technology Rajeev Chandrasekhar stated that Apple is interested in increasing electronics production in the country, a month after the US company’s Chief Executive Officer Tim Cook reiterated a commitment to invest in the region during a meeting with Prime Minister Narendra Modi.
Apple Inc. tripled iPhone production and assembled over $7 billion worth of iPhones in India last fiscal year, producing nearly 7% of its devices in the country. Meanwhile, Foxconn plans to invest approximately $700 million in building a new plant in the southern Indian state of Karnataka, partly to increase local production of iPhone components, as reported by Bloomberg News.
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