Foxconn buys land near Bengaluru for iPhone plant

Foxconn, the world’s biggest contract electronics manufacturer and assembler of iPhones, has bought 13 million square foot plot near Devanahalli located close to Bengaluru International Airport.
Apple supplier Foxconn
According to sources, the land was bought for Rs 106.24 crores.

The key Apple supplier has stated this in its filing at London Stock Exchange.

The news has come as a shot in the arm to the ruling BJP ahead of crucial Assembly elections scheduled on May 10.

Investment by Foxconn in the state had run into controversy following the opposition parties questioning ruling BJP and calling it a publicity stunt.

This is seen as part of the company’s strategy to look for alternative production destinations away from China following rigid Covid rules.

The statement from the Large and Medium Industries Ministry said that Foxconn Hon Hai Technology India Mega Development (FHH) would invest Rs 8,000 crore with employment opportunities for 50,000 people.

Latest

More like this
Related

How to factory reset a MacBook in 4 steps?

If you plan to sell or exchange your old...

OPPO reveals AI strategy at MWC 2025

China-based OPPO has revealed its AI strategy at the...

Realme unveils strategic plans at MWC 2025

Realme has unveiled its three-year strategic plan at MWC...

Honor’s AI plans: A $10 bn investment in smart devices

Chinese smartphone brand Honor is making a major move...