Foxconn close to inking deal to build iPhones in India

Foxconn close to inking deal to build iPhones in India
Contract manufacturer Foxconn is said to be on the verge of signing a deal that will allow it to manufacture the Apple iPhone in India. The $10 billion facility will be located in Maharashtra on a 1,200 acre plot. It was last year around this time that rumors started about Foxconn opening a factory in the country.

Foxconn should have the plant operational about 18 months after all of the paperwork has been signed. Ironically, at the same time Foxconn is starting the process to build brand new iPhones for the Indian market, Apple is seeking government approval to import refurbished iPhone models into India to offer as a low-priced alternative to Indian smartphone buyers. While India is the third largest smartphone market after China and the U.S., per capita income is only $1500. 70% of smartphones purchased in the market last year were priced at under $150.

Apple is doing well in India. Despite a fiscal second quarter that resulted in Apple's first ever year-over-year decline in sales, the company increased iPhone sales in the country by a healthy 56%, led by the $300 Apple iPhone 5s. CEO Tim Cook says that the market still hold great potential for the company with a huge population under 25, and with the early days of 4G LTE in the region.

Apple is also considering opening Apple Stores in India. Past laws required single-brand retailers to have at least 30% of its inventory sourced from domestic suppliers. That law prevented Apple from opening its retail locations in the region. But those rules are not being strictly applied by the government right now, giving Apple an opportunity to open its stores in the market. The stores would be a way to promote the Apple iPhone in India.



source: EconomicTimes via AppleInsider

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7 Comments

2. tech2

Posts: 3487; Member since: Oct 26, 2012

So everyone is gonna ignore the name of the television 'ET NOW' and say nothing about it ?! Okay then..... PS. To all the dim ones. I know what it really stands for.

7. ibend

Posts: 6747; Member since: Sep 30, 2014

who didnt know about E.T? /s

3. zunaidahmed

Posts: 1185; Member since: Dec 24, 2011

Hope the deal could be signed, wonder what the Indian government in offering, because on my last post, I explicitly said the Indian government would have to give some benefits of some policies to the foreign manufactures, so they are more attracted, guess Indian government did just that, but what are they actually offering, hmmmm. P.S They are still in talks, let's see how it goes

5. Totse2k15

Posts: 478; Member since: Feb 11, 2014

Better get/built more safety nets.

6. SIGPRO

Posts: 2817; Member since: Oct 03, 2012

This article is misleading....classic PA Apple propaganda! Foxconn will not only make iphones in India they will also make stuff for Acer, Amazon, BlackBerry, Google and Dell! Now it looks like they will only manufacture iphones!

8. ibend

Posts: 6747; Member since: Sep 30, 2014

no!! foxconn wont exist without apple.. they make assembly line because of apple, samsung make finfet factory because apple, samsung invest for AMOLED is because of apple, everything happen in the world is because of apple, the universe is rotating around apple... /s

10. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

So how much cheaper are the phones sold in India goign to be? Because iPhones are made in China, yet they cost more in china than they so in the USA.

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