iPhone manufacturer Foxconn buys $33 million worth of equipment from Apple

Apple manufacturing partner Foxconn has boughtUS $33 million worth of equipment from an Apple unit for its operations in India over the past year, “signaling the key iPhone assembler’s accelerating expansion in the country,” reports The Times of India.

An Indian subsidiary of the Taiwanese company acquired equipment from Apple Operations Ltd. for operational needs, the article adds. Apple sometimes helps finance the cost of the equipment that Foxconn uses to make the majority of the world’s iPhones.

In May it was reported that Foxconn had bought a huge tract of land on the outskirts of Indian tech hub Bengaluru, India. The 13 million-square-foot acquisition in Devanahalli, near the airport for Bengaluru, was announced in a statement to the London Stock Exchange. It said that subsidiary Foxconn Hon Hai Technology India Mega Development was paying three billion rupees (about US$37 million) for the site, the size of more than 50 Manhattan city blocks.