Page 2 - Foxconn

Foxconn plans to invest up to Rs 424 crore in semiconductor JV with HCL

Taiwanese electronics manufacturing giant Foxconn will invest up to Rs 424 crore in a semiconductor joint venture it has set up with HCL Group, according to an official note and sources. The iPhone contract manufacturer has purchased a 40 per cent stake in a semiconductor joint venture (JV) for about Rs 312 crore. "If the potential investment of no more than USD 13,310,000 (about Rs 112 crore) is included, the total accumulated holding will not exceed USD 50,510,000 (about Rs 424 crore) and the cumulative shareholding ratio will be adjusted based on the actual capital increase," the company said in note on investment in the JV unit which is yet to be named. According to sources, the investment is for Foxconn-HCL OSAT (Outsourced Semiconductor Assembly And Test) plant to be set up in India. Foxconn earlier invested about Rs 246 crore in the JV through its subsidiary Big Innovation Holdings and further increased the investment amount to Rs 312 crore through Foxconn Hon Hai Technology

Foxconn eyes $1 bn investment for smartphone display assembly in Tamil Nadu

Foxconn has acquired around 500,000 sq ft at the ESR Oragadam Industrial & Logistics Park, located next to its smartphone assembly plant near Chennai

Foxconn, Stellantis JV set up R&D for auto semiconductors tech in India

Foxconn-backed automotive technology company SiliconAuto has set up its research and development centre in Bengaluru which will focus on semiconductor product design and system-on-chip development for the automotive sector. SiliconAuto is a joint venture between the Netherlands-based Stellantis NV and Hon Hai Technology Group (Foxconn). "This new centre embodies SiliconAuto's commitment to innovation and excellence in the automotive industry. Our India team is set to drive forward our vision of a smarter and safer future for transportation. Bangalore, with its rich talent pool and thriving tech ecosystem, is the perfect location for our new design centre," SiliconAuto CEO, Gene Liu said in a statement. Foxconn India representative V Lee, in a social media post, said the R&D centre is poised to accelerate the company's innovative capabilities in the development of cutting-edge automotive technologies and solutions for the automotive industry, including Stellantis. Foxconn is in ...

Foxconn-HCL joint venture secures land for semiconductor plant in Noida

The proposed project could be a significant milestone for the state, as it would be the first OSAT unit to be established in Uttar Pradesh, pending approval from the central government

A look at major labour strikes at India operations of global companies

Workers of General Motors India staged protests after the plant in western Maharashtra state was acquired by Hyundai Motor India, leading to a halt in production for five days

Made-in-India iPhone 16 series to hit global markets within days of launch

Apple is set to unveil its highly anticipated iPhone 16 series, which boasts new AI features, on Monday, with global sales expected to begin 10 to 12 days later

Apple's key manpower supplier Layam Group plans IPO next fiscal year

The Chennai-based company is targeting over a 40 percent rise in its revenue in the next two years

Telangana, Andhra Pradesh, Karnataka vie to host Foxconn's new facilities

Southern states have all made offers to Foxconn to establish large industrial parks or townships, as the Apple manufacturer eyes expansion in India

Foxconn wants women workers to take up lead in design, tech space: Chairman

iPhone contract manufacturer Foxconn wants women employees in India to take up lead positions in design and other technology-related positions, a top company official has said. Foxconn has 48,000 employees across India and 25 per cent of its new hires are married women. "We see not only the assembly work for women but also some design, technology-related positions. Lot of our current employees are highly educated. We would like to give them more opportunity to advance their position, not just limited to assembly work," Foxconn Chairman Young Liu told PTI. The Foxconn factory has about 70 per cent women and 30 per cent men. The company recently inaugurated a women-only residential complex built by the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) in Sriperumbudur near Chennai that can house over 18,000 women employees working with Foxconn. Liu had then said there is an upward trend in all types of hiring by the Taiwanese electronics manufacturing major in India and

Global electronics maker Foxconn infuses Rs 1,200 crore in Karnataka unit

Electronics manufacturing giant Foxconn has infused about Rs 1,200 crore -- approximately USD 144 million -- into its Karnataka-based Foxconn Hon Hai Technology India Mega Development Pvt Ltd, the company said in a recent regulatory filing. The iPhone contract manufacturer's Singapore-based arm Foxconn Singapore Pte has bought over 120.35 crore stocks of Foxconn Hon Hai Technology India Mega Development Pvt Ltd at Rs 10 per share on August 21. The Karnataka government in a statement last week said Foxconn is planning to invest Rs 25,000 crore to establish a massive manufacturing plant near Dodda Ballapur that will create 40,000 jobs. "The unit in Karnataka will soon become the second-largest Foxconn plant after China's unit. It will create 40,000 direct jobs, especially for middle-level educated individuals, and our investment will not stop here; in the future, we plan to explore other sectors also," Foxconn Chairman Young Liu was quoted as saying in the statement. With the fresh .

Foxconn begins iPhone 16 Pro, Pro Max production in India; Costs fall 10%

iPhone 16 Pro and Pro Max trial assembly begins in India by Foxconn with production costs expected to decrease by 10%. But retail prices in India may remain the same due to tax and component costs

As Foxconn looks to up India play, 3 South states roll out red carpet

The firm is reportedly looking beyond smartphones and considering segments like ICT, EVs

Foxconn working to set up battery energy storage system unit in India

Taiwanese electronics manufacturing giant Foxconn is working on plans to set up a Battery Energy Storage System unit in India, its chairman Young Liu said here. With an eye on the electric vehicle segment, Foxconn has been expanding its battery manufacturing business, with the first plant already set up in Taiwan. Liu told PTI that Foxconn's information and communication technology segment has just started in India. "We are also waiting to put our 3+3 future industry in India. I have been talking to the minister for industries here about how can we collaborate on BESS (Battery Energy Storage System) in Tamil Nadu...," Liu said. As part of the "3+3 strategy", Foxconn has prioritised the three key industries -- electric vehicles, digital health, and robotics industries, each has a significant growth potential with current scale at USD 1.4 trillion and over 20 per cent compound annual growth rate. Foxconn's battery storage business is more focused on electric vehicles. Battery energ

Foxconn business in India crosses $10 bn mark; invests $1.4 bn till date

iPhone contract manufacturer Foxconn's business in India has grown to over USD 10 billion till 2024, its chairman Young Liu said here. Foxconn has invested USD 1.4 billion in India till date, according to the company. "So far, till last year, we have done more than USD 10 billion in business size. We will do much more in this coming year," Liu told PTI. He was speaking on the sidelines of the inauguration of the company's women-only residential complex near Foxconn's plant here on Saturday. Liu, a Padma Bhushan awardee, said that during his current visit to the country he met chief ministers of several states and feels that India is on the rise. "After visiting so many states in India I felt that India is ascending. Foxconn wants to be a part of it. We will grow together with India's growth," Liu said. This is Liu's first visit to India after he was conferred Padma Bhushan, the third-highest civilian award, on the eve of the 75th Republic Day this year. Liu started his about a w

Foxconn chief defends hiring process after report of married women rejected

The chairman of the Taiwan-based iPhone contract manufacturer was speaking at the inaugural ceremony of its women-only residential complex here

Siddaramaiah asks Foxconn to invest more in K'taka, assures full support

Karnataka Chief Minister Siddaramaiah on Friday assured Taiwanese electronics major Foxconn of his government's complete support and commitment to ensure it gets all the assistance required and requested the company to further invest in the state. The chief minister held discussions with Young Liu, Chief Executive Officer and Chairman of Hon Hai Technology Group (Foxconn) and his team, during the dinner meeting organised at a private hotel here. "... we work together to deepen and strengthen the collaborative relationship between Foxconn and our state. This partnership is of immense importance, and I am honoured to be part of an initiative that holds such significant potential for mutual growth and success," Siddaramaiah said. During his address at the dinner meeting, he said, Karnataka has established itself as a powerhouse in the Electronics System Design and Manufacturing (ESDM) sector. "With several leading ESDM players operating within the state, we are proud to be among the t

Foxconn eyes Hyderabad investment, CM Reddy pitches 'fourth city' project

Taiwanese electronics major Foxconn has expressed interest in exploring investment opportunities in Hyderabad, Telangana government said on Friday. Foxconn Chairman Young Liu met with Telangana Chief Minister A Revanth Reddy in New Delhi and the latter invited the company to invest in a proposed "fourth city" to be developed on the outskirts of Hyderabad. Reddy assured Liu of full support, including necessary permits and incentives, for setting up factories in the state. "Liu said Foxconn is eager to explore investment opportunities in Hyderabad," an official statement from the Telangana government said. The Foxconn chairman noted that Hyderabad has the potential to expand in all sectors, including industrial and service sectors. Liu announced plans for an initial visit by a team led by Foxconn's Chief Campus Operations Officer Kathy Yang and India representative V Lee. He said he would follow up with a personal visit later. Outlining the development plans for the proposed "fourt

Rahul meets Foxconn chairman, discusses future of tech innovation in India

Leader of Opposition in the Lok Sabha Rahul Gandhi and Foxconn chairman Young Liu met here on Friday and discussed the future of technological innovation in India and the world. "It was a pleasure to meet Mr. Young Liu, Chairman of Foxconn, earlier today. We had an engaging conversation on the future of technological innovation in India and the world," Gandhi said in a post on X. "With the right support, India's tech industry can be positioned for a significant leap forward," the former Congress chief said. Liu, who is on an India visit, was conferred Padma Bhushan, the third-highest civilian award, on the eve of the 75th Republic Day this year. Foxconn is the contract manufacturer of Apple iPhones in India and is estimated to employ over 40,000 people in the country. The company's total investment in India is estimated to be in the range of USD 9-10 billion. The company is in the process of expanding its iPhone production facility, setting up a chip plant in a joint venture with

Coming to China's 'iPhone city': An electric car factory from Foxconn

Now Foxconn, a Taiwanese electronics giant, is planning to build a new, 700-acre campus in Zhengzhou to make electric cars

TN takes cue from China: Lines up govt-run industrial housing for Foxconn

This comes at a time when Apple has reportedly lined up a plan to create residential accommodations for 78,000 people, out of which Tamil Nadu is set to receive the highest allocation of 58,000 units