Pegatron is reportedly in advanced discussions to transfer control of its sole iPhone manufacturing facility in India to the Tata Group, news agency Reuters reported citing two sources. This development signifies Pegatron’s latest move to scale back its partnership with Apple. As part of the proposed deal, which has Apple’s approval, Tata intends to hold […]
In a move aimed at further incentivising fresh investments in the manufacturing sector and promoting ease of compliance, the Indian government is reportedly considering extending the lower tax rate of 15 per cent for companies establishing new manufacturing units. As per reports, this extension is likely to be announced in the upcoming Interim Budget scheduled […]
Foxconn, also known as Hon Hai Precision Industry, on Wednesday said it has struck strategic collaboration deal with HCL Group to establish a chip packaging and testing venture in India. According to filings on the Taiwanese stock exchange, Foxconn Hon Hai Technology India Mega Development, a subsidiary of the Taiwanese giant, is set to invest […]
Taiwanese electronics manufacturer Foxconn has invested USD 55.29 million in Bengaluru-based Foxconn Precision Engineering, a fresh capital made through the company’s Singapore-based subsidiary Foxconn Singapore. Foxconn Singapore has acquired 46,08,76,736 shares in total at Rs 10 each. The company’s Bengaluru unit was incorporated six months ago to set up a Rs 8,800 crore supplementary plant […]
A high-level committee that met in Belgaum approved the establishment of 14 enterprises with a total capital investment of Rs 34,115 crores, which includes Foxconn’s proposal to invest an additional amount of Rs 13,911 crore in Karnataka, said Chief Minister Siddaramaiah. These capital investments are expected to employ over 13,300 people across the state, said […]
Major Apple suppliers Foxconn and Pegatron have been compelled to suspend iPhone production at their factories near the capital of Tamil Nadu in the wake of torrential rains and an impending cyclone in the southern Indian city of Chennai. The heavy rains have claimed at least two lives and led to the submersion of the […]
Hon Hai Precision Industry Co., the company that manufactures iPhones, is planning to invest another NT$50 billion (USD 1.6 billion) in construction projects in India to expand its footprint in the country. The company made the announcement in an exchange filing in Taiwan on Monday, stating that the investment will be for operational needs, without […]
Taiwanese chipmaker Foxconn has registered strong year-end holiday sales and said customers were buying well in China and the United States. The company’s sales stood positive for the same season last year. The fourth quarter is traditionally the busiest season for Foxconn as the race is to supply smartphones, tablets and other electronics to major […]
Foxconn, Apple’s largest contract electronics manufacturer, shares dropped by three per cent on Monday after the Chinese tax officials launched a probe into the land used by the company. Chinese state-sponsored media said some of Foxconn’s key subsidiaries in China were the subject of tax audits and that China’s natural resources department had also conducted […]
Taiwanese electronics major Foxconn aims to double its workforce and investment in India by next year, a company representative based in India said on Sunday. “Under your leadership, Foxconn has grown smoothly and rapidly in India. We will work even harder to present you with a greater birthday gift next year, aiming for another doubling […]
