Foxconn will reportedly invest USD3.5 billion in India over the next two to three years.
According to a report in India's Business Standard, Foxconn executive Josh Fougler revealed that the company plans to invest USD3.5 billion in India in the next two to three years, covering smartphone, software, TV, and other electronic products.
In addition, The Economic Times in India quoted an insider by saying that Foxconn is considering building two smartphone product lines in Gujarat and Noida, respectively. Moreover, Foxconn will set up a small-scale trial product line in Sri City, Andhra Pradesh. The report said those product lines will make products for Apple; however, Hon Hai, parent company of Foxconn, did not provide any comment on the news.
Foxconn previously had three manufacturing plants in India which made mobile phones and related parts for Nokia. After Microsoft's acquisition of Nokia, Foxconn also closed those plants.