Apple supplier Foxconn to increase its southern India investments by more than $1.2 billion – Tech Live Trends

Foxconn, Apple’s main supplier, plans to increase its investments to more than US$1.2 billion in southern India’s Karnataka state and add two component factories there, reports Bloomberg.

At least one of the factories that the Taiwanese company plans to construct in Karnataka will produce Apple parts, including for iPhones, the article adds. A formal announcement is expected as early as this week. Bloomberg says the second plant will also be in Karnataka, but their exact location has yet to be decided.

What’s more, 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.