Apple to Invest $1 billion in India

Pankaj Doval, reporting for TOI

“Apple will be investing $1 billion in India through its partners. They have said the production will be used for meeting the demand for its products across global markets,” an official source told TOI.

Foxconn, Taiwan’s contract manufacturing behemoth and the biggest production partner for Apple globally, will be investment partner for the iPhone maker’s latest push. Its factory in Chennai will be used to manufacture products for Apple’s global markets. Also, a host of component suppliers to the company will be making investments in the region for the local push.

Good to see these activities in recent times, although I’d like to see some concrete results from all this.

September 17, 2019 ✚ Permalink

Tim Cook to Visit India this Week

Himank Sharma and Rupam Jain, reporting for Reuters:

Apple Inc Chief Executive Tim Cook will visit India this week and meet Prime Minister Narendra Modi on the second leg of his Asian tour, two sources familiar with the matter said, as the company seeks to revive sluggish iPhone sales.

and

Apart from meeting Modi, Cook will also hold meetings with employees and partners, the source said, adding he would fly to India on Tuesday.

Apple has been inching closer towards opening its own retail store in India and the timing of Cook’s visit around recent developments reaffirms that.

On the other hand, Foxconn — the Taiwanese electronics giant and Apple’s supplier was poised to make a $5 Billion investment and setup a manufacturing factory in Maharashtra under Modi’s Make in India program.

May 16, 2016 ✚ Permalink