Apple iPhone maker Foxconn buys 300 acres in Bengaluru

BENGALURU: Taiwanese contract manufacturer Foxconn has bought 300 acres at Devanahalli in Bengaluru for Rs 300 crore through its subsidiary Foxconn Hon Hai Technology India Mega Development, a London Stock Exchange (LSE) filing on Tuesday showed.

Foxconn is one of the biggest producers of Apple products. It’s expected that the plant in Bengaluru will produce Apple products, in addition to other electronics.

Apple has been steadily reducing its dependence on China and growing its presence in India. This Bengaluru plant, in addition to other Foxconn investments in India, could reshape the global supply chain dynamics.