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Apple Supplier Foxconn Plans $500 Million Component Plants in India

https://www.bloomberg.com/news/articles ... ent-plants

Apple Inc.’s main supplier, Foxconn Technology Group, plans to increase its investments to more than $1.2 billion in southern India’s Karnataka state and add two component factories there, expanding a steady diversification from China to mitigate the risks of US economic and technology sanctions.

At least one of the factories that the Taiwanese company plans to construct in Karnataka will produce Apple parts, including for iPhones, people familiar with the matter said. A formal announcement is expected as early as this week, the people said, declining to be named as the matter isn’t public. The second plant will also be in Karnataka, but their exact location has yet to be decided.

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