Taipei: Taiwan’s Foxconn, the world’s largest contract electronics maker, beat expectations to post its highest-ever revenue for the third quarter on strong demand for artificial intelligence (AI) servers. Revenue for Apple‘s biggest iPhone assembler jumped 20.2% year on year to T$1.85 trillion ($57.3 billion). “The result exceeded the company’s original expectations of significant growth,” Foxconn … Read more
V. Lee, Foxconn Representative in India, with IT Minister Nara Lokesh on Monday. | Photo Credit: A delegation of Hon Hai Technology Group (Foxconn) led by V. Lee, Foxconn Representative in India, met Information Technology and Human Resources Development Minister Nara Lokesh on Monday. Mr. Lokesh said in a message on ‘X’ that Mr. Lee … Read more
India‘s top bureaucrat reviewed a production-linked incentive scheme on Thursday amid a push from industry for faster payouts to improve the programme that aims to boost investment in manufacturing, a government official said. The scheme is crucial to boosting the broader Indian economy which has been starved of private investment for nearly a decade and … Read more
A $10 billion push to make semiconductors in India is on shaky ground. Its collapse will expose a major fault line in Prime Minister Narendra Modi’s campaign for greater economic self-reliance. Already, influential critics are asking if the much-touted success in becoming a hub for smartphone manufacturing is a hollow claim. Low-end assembly-line jobs, created … Read more
Taiwanese iPhone maker Foxconn has promised to invest ₹5,000 crore in Karnataka in the first phase of investment, said Murugesh Rudrappa Nirani, Minister for Large and Medium Scale Industries. The Minister further said Foxconn was ready to invest ₹50,000 crore in the State over a period. Mr. Nirani was speaking at the Annual Members Meet … Read more
China ordered an industrial park that houses an iPhone factory belonging to Foxconn to enter a seven-day lockdown on Wednesday China ordered an industrial park that houses an iPhone factory belonging to Foxconn to enter a seven-day lockdown on Wednesday Taiwan’s Foxconn, Apple Inc’s biggest iPhone maker, said on Monday it was working to resume … Read more
Cities in central China hastily drew up plans to isolate migrant workers fleeing to their hometowns from a vast assembly facility of iPhone maker Foxconn in COVID-hit Zhengzhou city, fearing the returnees may trigger coronavirus outbreaks. Zhengzhou, capital of Henan province, reported 167 locally transmitted COVID-19 cases in the seven days to Oct. 29, up … Read more
Vedanta-Foxconn partnership has signed two Memorandum of Understanding (MoU) with the Gujarat Government to set up display and semiconductor production plants in the state. The companies aim to invest $19.5 billion (roughly Rs. 1,54,350 crore) under the joint partnership. According to Foxconn and Vedanta, the new plants under the joint venture will create more than … Read more
Google is reportedly planning to move the production of the upcoming Pixel series out of China. It is believed that the Pixel 7 series will be made in Vietnam. In the past, Google has manufactured the A-series mid-range lineup in Vietnam, including the Pixel 4a, Pixel 5a, and Pixel 6a. The report further adds that … Read more
Apple supplier Foxconn has signed a $300 million (roughly Rs. 2,400 crore) memorandum of understanding with Vietnamese developer Kinh Bac City to expand its facility in the north of the country to diversify and boost production, state media said on Saturday. The Taiwanese company’s new factory, on a plot of 50.5 hectares (125 acres) in … Read more