iPhone unit: After Foxconn’s denial, Karnataka industry dept releases Letter of Intent

Following the Taiwan-based tech giant Foxconn’s reported denial of setting up an iPhone making unit on the outskirts of Bengaluru, Industries department on Sunday released a Letter of Intent (LoI), signed by the company’s Assistant Vice President Vincent Lee, in which the tech giant shows its intent to set up a manufacturing facility.

The release of LoI assumes significance as Foxconn company’s written statement, issued to an international news agency, said, “Foxconn has not entered into binding, definitive agreements for new investments during this trip.”

The statement had gone viral on all media platforms and in the poll-bound Karnataka, both opposition parties – Congress and JD(S) – took to Twitter to slam Chief Minister Basavaraj Bommai calling him a “Liar and Cheater”.