According to a filing by Foxconn Tuesday night, the world's largest electronics manufacturer has bought land near Bengaluru for future operation.
Foxconn said in the filing that its subsidiary Foxconn Hong Hai Technology India Mega Development acquired a 300-acre land in Information Technology Investment Region in Devanhahalli Taluk, Bengaluru, with a price of INR3 billion (US$36.54 million).
Following Foxconn chairman Young Liu's visit to India earlier in 2023, Karnataka approved 18 projects, including Foxconn's planned mobile phone manufacturing plant, in March. The Economic Times quoted sources saying that Foxconn's mobile phone plant near Bengaluru airport is expected to start construction on May 22.
Besides the plant in Karnataka, MoneyControl reported that Foxconn might hold a ground-breaking ceremony in Telangana on May 15 after an April announcement by the company that it had obtained a 186.7-acre land at Kongara Kalan on the outskirts of Hyderabad.
Foxconn and its subsidiary churn out iPhones and other smartphones in the southern states of Tamil Nadu and Andhra Pradesh and are looking to expand its smartphone, EV, and semiconductor footprints across southern and western Indian states, including Karnataka, Telangana, and Gujarat. Contrastly, Taiwan-based Wistron, another iPhone manufacturer, is reportedly winding down its investment in India.
Business Intelligence analyst Steven Tseng said in a research note that Apple suppliers' factory location share in China may drop from 42% in 2020 to 30% in 2024 amid Apple's diversification efforts, benefiting Southeast Asian countries and India.
