Taiwan's Foxconn eyes possible iPhone plant in India

Apple iPhone manufacturer Foxconn is in talks with the Indian government to build a plant there, an official said Friday, as Prime Minister Narendra Modi seeks to boost foreign investment.

Subhash Desai, industry minister for India's western state of Maharashtra, told AFP that local officials had pitched several possible sites to the Taiwanese technology giant.

"We have sent Foxconn a presentation outlining possible locations they could explore and also the tax incentives the state is willing to extend," Desai said.

"We hope that they reply and make up their mind on details like how many and how big they want to build," the minister added.

The Apple supplier, also known as Hon Hai Precision Industry, is the world's largest computer components manufacturer and also assembles products for Sony and Nokia.

In March it reported a 22.34 percent rise in profits for 2014 due to demand for larger-screen iPhones.

Its net profit was Tw$130.5 billion ($4.2 billion) last year with nearly half of its revenue generated by orders from Apple.

Setting up a plant in India could help cut Foxconn's labour costs and boost sales of iPhones in a country that boasts 952 million mobile connections.

© 2015 AFP

Citation: Taiwan's Foxconn eyes possible iPhone plant in India (2015, June 12) retrieved 2 April 2023 from https://phys.org/news/2015-06-taiwan-foxconn-eyes-iphone-india.html
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