A planned $3 billion (roughly Rs. 24,700 crore) semiconductor facility in India by chip consortium ISMC that counted Israeli chipmaker Tower as a tech partner has been stalled due to the company’s ongoing takeover by Intel, three sources said, dashing India’s chip making plans. A second mega $19.5 billion (roughly…
Some applicants including Vedanta Foxconn JV are expected to re-apply for government incentives under the modified semiconductor scheme opening from June 1, according to sources. Under the Modified Semicon India Programme, the government has increased the financial incentive of 50 percent of the project cost for companies, consortia, joint ventures…
Taiwanese electronics giant Foxconn has bought a huge tract of land on the outskirts of Indian tech hub Bengaluru, the key Apple supplier said in a filing Tuesday as it looks to diversify production away from China. Also known by its official name, Hon Hai Precision Industry, Foxconn is the…
Apple supplier Foxconn will invest an undisclosed sum in India’s southern state of Telangana towards an electronics manufacturing facility in the south Indian state, the state’s chief minister said on Thursday. The investment will create 100,000 jobs in the state, Telangana’s IT minister KT Rama Rao said. The announcement followed…
A joint venture of Indian conglomerate Vedanta and electronics manufacturing giant Foxconn has finalised the Dholera Special Investment Region near Ahmedabad city of Gujarat for setting up their semiconductor and display manufacturing facility, a senior state government official said on Monday. In the biggest ever corporate investment in the history…
Anil Agarwal-led Vedanta on Monday named industry veteran David Reed to head its semiconductor unit where it is looking to invest $20 billion (nearly Rs. 1,65,600 crore) to manufacture chips essential for mobile phones to laptops and TV sets. In an interview with PTI, Agarwal said the group is looking to start…
Apple wants India to account for up to 25 percent of its production from about 5 percent – 7 percent now, Commerce and Industry Minister Piyush Goyal told a conference on Monday, as the iPhone maker continues to move its manufacturing away from China. “Apple, another success story,” Piyush Goyal…
Foxconn, the world’s largest contract electronics maker, said on Thursday output at its iPhone plant in China had “basically returned to normal” and December revenue, down 12.3 percent year-on-year, marked the start of a recovery. Production of Apple iPhones faced disruption ahead of Christmas and January’s Lunar New Year holidays,…
The company that assembles Apple’s iPhones has announced it is easing COVID-19 restrictions at its largest factory in China that led thousands of workers to quit and drastically slowed production. Foxconn Technology said in a statement on one of its official WeChat social media accounts that it would end the…
Foxconn’s flagship iPhone plant in China is set to see a further reduction in November shipments after the latest bout of worker unrest this week, a source with direct knowledge of the matter said on Friday, as thousands of employees quit. The world’s largest Apple iPhone factory has been grappling…
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