A fire that broke out on Sunday at a Pegatron Corp (和碩) plant in Chennai, the capital of India’s southern state of Tamil Nadu, has had little impact on operations, the company said on Monday.
The iPhone assembler said in a statement that a small power panelboard at the factory caught fire on Sunday night, but the situation was quickly brought under control.
The incident did not result in casualties or damage to the plant, Pegatron said.
Photo: Reuters
The plant is in Mahindra World City, an industrial park in Chennai.
It produces the iPhone 14 and iPhone 14 Pro, as well as the newest iPhone 15 and iPhone Pro models, Chennai-based TV channel Thanthi reported.
The plant halted production for a second day yesterday, but the fire broke out on a holiday, so the facility was not operational at the time, Reuters reported.
The Chennai facility has a production capacity of about 26,000 iPhones a day. It has been assembling about 8,000 to 12,000 iPhones per day over the past few months, Reuters reported, citing an industry source.
Pegatron accounts for about 10 percent of India’s iPhone production, research firm Counterpoint said.
The company began assembling iPhones in India in September last year and has been in talks to set up a second production site near its Chennai facility, Reuters reported.
Apple has made significant investments in India since 2017, mainly iPhone assembly via Taiwanese contract manufacturers, in line with the Indian government’s promotion of local manufacturing.
Taiwan’s Hon Hai Precision Industry Co (鴻海精密), also known as Foxconn Technology Group (富士康科技集團), and Wistron Corp (緯創) are also producing iPhones for Apple in India.
Hong Kong authorities ramped up sales of the local dollar as the greenback’s slide threatened the foreign-exchange peg. The Hong Kong Monetary Authority (HKMA) sold a record HK$60.5 billion (US$7.8 billion) of the city’s currency, according to an alert sent on its Bloomberg page yesterday in Asia, after it tested the upper end of its trading band. That added to the HK$56.1 billion of sales versus the greenback since Friday. The rapid intervention signals efforts from the city’s authorities to limit the local currency’s moves within its HK$7.75 to HK$7.85 per US dollar trading band. Heavy sales of the local dollar by
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue jumped 48 percent last month, underscoring how electronics firms scrambled to acquire essential components before global tariffs took effect. The main chipmaker for Apple Inc and Nvidia Corp reported monthly sales of NT$349.6 billion (US$11.6 billion). That compares with the average analysts’ estimate for a 38 percent rise in second-quarter revenue. US President Donald Trump’s trade war is prompting economists to retool GDP forecasts worldwide, casting doubt over the outlook for everything from iPhone demand to computing and datacenter construction. However, TSMC — a barometer for global tech spending given its central role in the
The Financial Supervisory Commission (FSC) yesterday met with some of the nation’s largest insurance companies as a skyrocketing New Taiwan dollar piles pressure on their hundreds of billions of dollars in US bond investments. The commission has asked some life insurance firms, among the biggest Asian holders of US debt, to discuss how the rapidly strengthening NT dollar has impacted their operations, people familiar with the matter said. The meeting took place as the NT dollar jumped as much as 5 percent yesterday, its biggest intraday gain in more than three decades. The local currency surged as exporters rushed to