Foxconn is expected to increase its Indian production of iPhones from 12-14% in 2023 to 20-25% in 2024.
Earlier this week the company filed a securities notice in Taiwan that it would build a plant costing $1.54 billion at an unnamed location in India, reported The Nikkei.
According to reports in the Taiwan press, the plant will be used for iPhone production.
It was also reported that the Indian plant would be used for iPhone product development and test production.
Currently 90% of iPhone assembly is done in China and Foxconn accounts for 60-70% of iPhone assembly.
Foxconn has been assembling iPhones in India since 2019 at Sunguvarchatram but it has been a less profitable operation than at its assembly plants in China because of higher material costs and a higher percentage of defective phones.
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