Foxconn Invests USD 1.48 Bn in India to Power Apple's iPhone Production Push
The investment was made through Foxconn's Singapore-based arm into its Tamil Nadu unit, Yuzhan Technology (India) Pvt Ltd.
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Apple's key manufacturing partner, Foxconn, has pumped in USD 1.48 billion (around INR 12,800 crore) into its Indian unit over the last five days, signalling a significant boost to iPhone production in the country.
The investment was made through Foxconn's Singapore-based arm into its Tamil Nadu unit, Yuzhan Technology (India) Pvt Ltd.
As per regulatory filings, Foxconn Singapore acquired 9,999 shares of Yuzhan at INR 10 each, with a substantial premium, taking the total transaction value to USD 1.489 billion. The move aligns with Apple's broader strategy to shift more iPhone manufacturing to India amid global supply chain realignments and trade tariff uncertainties.
Apple CEO Tim Cook recently confirmed that the majority of iPhones sold in the US in the June quarter would be sourced from India, while China would continue to cater to most other markets. Currently, around 15% of Apple's global iPhone production comes from India, according to government sources.
Foxconn has more than doubled its India revenue to over USD 20 billion (approximately INR 1.7 lakh crore) in FY25, primarily driven by increased iPhone output. S&P Global's analysis shows US iPhone sales touched 75.9 million units in 2024, while India's iPhone exports reached 3.1 million units in March alone, indicating the need to ramp up capacity or adjust shipment flows.
Union Minister Ashwini Vaishnaw recently announced that India's mobile phone exports hit a record INR 2 lakh crore in FY25, with iPhone exports alone accounting for INR 1.5 lakh crore. Apple reportedly aims to manufacture about 60 million iPhones in India this fiscal year.
The massive Foxconn investment reinforces India's growing role as a global electronics manufacturing hub and a critical pillar in Apple's production strategy.
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