Apple supplier Foxconn invests $500 mn in India amid disruptions: Report

Amid supply chain disruptions at its key China iPhone plant, Apple supplier Foxconn is investing another $500 million in India, the media reported on Thursday.

TechCrunch first reported, quoting a company stock exchange filing in Taiwan, that Foxconn’s Singapore subsidiary is $500 million in Hon Hai Technology India Mega Development Pvt Ltd.

The move comes as Apple is fast forwarding its manufacturing plans for both iPhones and iPads in India and Vietnam in the wake of China unrest over zero-Covid policy which has severely disrupted its supply chain, leading to an acute shortage of new iPhone 14 Pro models.