Hon Hai Precision Industry Co (鴻海精密) has spent an additional US$350 million on a subsidiary in India that industry sources believe is soon to begin manufacturing Apple Inc’s iPhone 13.
Hon Hai, known internationally as Foxconn Technology Group (富士康科技集團), said in a statement on Friday that it has invested US$350 million in Foxconn Hon Hai Technology India Mega Development Private Ltd as part of its long-term development in the country.
The investment — part of Hon Hai’s expansion of its plant in Chennai in southeast India — would be used to set up a new production line exclusively for the assembly of the iPhone 13 series, industry sources said.
Photo: Reuters
Media reports said that Apple has started to produce iPhone 13 models on a trial basis from Hon Hai’s factory in Chennai, with commercial production set to begin in February.
Hon Hai had manufactured iPhone XR, 11 and 12 models in Tamil Nadu, southern India, the reports said.
Hon Hai, the world’s largest contract electronics maker, has become Apple’s most important iPhone assembler. Apple accounts for about 40 percent of the Taiwanese company’s total sales.
The company is to restart production at the Chennai factory after its temporary workers, mostly women, staged a protest on Dec. 18 over conditions in their living quarters and food quality, the Tamil Nadu Government said in a statement on Saturday.
The company has agreed to all demands made by the employees, the government added.
Hon Hai promised to improve the temporary employees’ working and living conditions by expanding their living areas, upgrading bathing facilities and providing drinking water, among other improvements, it said.
Separately, Hon Hai’s Hong Kong-listed subsidiary FIH Mobile Ltd (富智康) is planning a spinoff of its unit in India, Bharat FIH Ltd, and has set its sights on listing the Indian company’s shares on the Bombay Stock Exchange and the National Stock Exchange of India.
Hon Hai, which owns a 63.43 percent stake in Bharat FIH, said that the Indian unit submitted documents pertaining to a listing to the two exchanges on Wednesday.
The spinoff of the Indian unit would be completed in 2023, Hon Hai said.
Bharat FIH, which is the largest contract electronics maker in India, operates three production sites in southern India and produces a range of goods, such as cellphones, machinery, electric vehicles, TVs, handheld devices and Internet connectivity gadgets, Hon Hai said.
Additional reporting by Bloomberg
‘NO SECURITY RISK’: The Railway Bureau reassured the public that the technicians’ activities were limited to technical guidance and did not involve sensitive systems The Railway Bureau yesterday said it had invited eight Chinese technicians to assist with an airport MRT construction project. The bureau issued the confirmation after an Internet user said Chinese nationals had entered the construction zone of Taiwan Taoyuan International Airport’s Terminal 3 project. They asked why “individuals from an enemy state” were allowed access to such a major national infrastructure project, which raised serious concerns over Taiwan’s industrial safety, sensitive systems and information security. The bureau’s Northern Region Engineering Branch Office said subcontractor Taiwan Handle Industrial Co (台灣手把工業) of the Taoyuan airport MRT’s “Contract No. CU05 Project A14 Station Civil, MEP &
The National Chungshan Institute of Science and Technology yesterday showcased its locally developed variants of the Vision 60 robotic patrol dog, which it plans to deploy on the nation’s outlying territories in the South China Sea. The variants were produced under the Joint Lab project — created by the institute and domestic companies — and assembled with domestically produced motors, lenses and artificial intelligence (AI) systems alongside licensed tech from the US, Missile and Rocket Systems Research Division deputy director Jen Kuo-kang (任國光) told the media event at a military base in Taipei’s Dazhi (大直) area. Taiwan has built up its strengths
TIT-FOR-TAT: The US allegedly revoked the visa of a Chinese national working at Xinhua News Agency in the US in response to Beijing’s expulsion of Vivian Wang The Presidential Office yesterday condemned China for expelling a New York Times correspondent from Beijing following the newspaper’s interview with President William Lai (賴清德), saying the move highlighted Beijing’s suppression of press freedom and its threat to international news media. Taiwan has noted a series of recent incidents in which Beijing used similar tactics to “threaten and pressure international media outlets and journalists,” Presidential Office spokeswoman Karen Kuo (郭雅慧) said in a statement. “This concerns not only press freedom and freedom of expression, but also the safety of journalists, and Taiwan and relevant partners are paying close attention to the situation,” she
NOT IMMEDIATE: Taiwan has a chance to appeal the proposed 10 percent tariff before it starts, while other countries face a 12.5 percent tariff from the trade office Taiwan is among 60 economies determined by the US to have failed to impose or enforce a ban on the importation of goods produced with forced labor, according to a notice released on Tuesday by the Office of the US Trade Representative (USTR), which proposed imposing an additional 10 percent or more tariff on them. The USTR in a statement said that following an investigation, it had determined under Section 301 of the Trade Act of 1974 that the failure of the 60 economies to impose and effectively enforce a prohibition on the importation of goods produced with forced labor is
RSS