Exclusive: Taiwanese contract manufacturer Foxconn has won an order to make AirPods for Apple and plans to build a factory in India to produce the wireless earphones
A subsidiary, Foxconn Interconnect Technology Ltd , plans to start construction of a manufacturing facility in Telangana in the second half of this year and begin production by the end of 2024 at the earliest, the person said.
Shares in the Foxconn unit jumped nearly 9% after Reuters first reported the news, reversing an earlier loss of 2.2%. Shares in Foxconn itself traded up 0.5%, while the Taipei benchmarkA second person with direct knowledge of the matter, who also declined to be identified as the matter was not yet public, said the Foxconn subsidiary will make AirPods in India without providing further details.
Analysts have previously said Apple has asked suppliers including Foxconn to make AirPods in India, but details such as the size of investment, timeline and which suppliers have manufacturing plans in the country have not been disclosed.Apple and its key suppliers have been away from China, where strict COVID-19 curbs disrupted Foxconn's biggest iPhone factory last year. They are also seeking to avoid a potential hit to business from mounting Sino-U.S. trade friction.to meet customer demand and lower its reliance on China for production.
It was not immediately clear whether Foxconn's production plan would have impact on current AirPod suppliers, including Luxshare Precision Industry
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exclusive: Apple supplier Foxconn wins AirPod order, plans $200 million factory in IndiaTaiwanese contract manufacturer Foxconn has won an order to make AirPods for Apple Inc and plans to build a factory in India to produce the wireless earphones, two people with direct knowledge of the matter told Reuters.
Read more »
Apple Supplier Foxconn Plans to Rely Less on China for RevenueFoxconn Technology, one of Apple’s biggest suppliers, said it would rely less on China as a source of revenue as it diversifies production sites to strengthen supply-chain resilience
Read more »
Apple supplier Foxconn warns on consumer electronics demand as Q4 profit dipsApple Inc supplier Foxconn said on Wednesday it expected smart consumer electronics demand would decline slightly this year, as it reported a 10% fall in fourth-quarter net profit from a year earlier, in line with analysts estimates.
Read more »
Apple supplier Foxconn expects low demand for consumer electronics in 2023Apple supplier Foxconn expects low demand for smart consumer electronics this year, as the manufacturer reported a 10% fall in Q4.
Read more »
Apple supplier Foxconn steps up investment outside China, as consumer electronics demand dipsApple Inc supplier Foxconn on Wednesday said it plans to ramp up investment outside of China and efforts to attract automakers to its contract manufacturing business, as the company reported weaker demand for consumer electronics.
Read more »
Exclusive: India plans new security testing for smartphones, crackdown on pre-installed appsThe new rules could extend launch timelines in the world's No. 2 smartphone market and lead to losses in business from pre-installed apps for players including Samsung, Xiaomi, Vivo and Apple.
Read more »