Foxconn's Strategic $1.48 Billion Investment Spurs iPhone Surge in India

Apple supplier Foxconn has invested $1.48 billion in its Indian unit, Yuzhan Technology, to boost iPhone production. This move aligns with Apple's strategy to source more iPhones from India for the U.S. market. Foxconn's revenue in India has doubled, fueled by increased iPhone output.

Foxconn, Apple's prominent manufacturing partner, has injected a significant $1.48 billion into its Indian operations over the past five days, as revealed in a regulatory disclosure. This strategic investment was funneled through Foxconn's Singapore-based subsidiary into Yuzhan Technology, located in Tamil Nadu.

The transaction involved Foxconn Singapore acquiring 9,999 shares at a premium price, elevating the total value of the deal to approximately $1.489 billion. This development comes amid Apple's ambitious plans to ramp up iPhone production within India, reflecting a shift in the company's supply chain dynamics.

Apple CEO Tim Cook has announced a goal to increase U.S. market iPhone sourcing from India while maintaining other global production mainly in China. Reports indicate that Foxconn's revenue in India has surged beyond $20 billion, primarily driven by heightened iPhone manufacturing. Analysis indicates a growing need for increased shipments, either through new production capacities or redirected supplies, as Apple's market share in the U.S. continues to climb.

(With inputs from agencies.)