Foxconn takes bold leap beyond product assembly: Taiwanese giant eyes expansion of key components in India

Foxconn, the global technology giant also known as Hon Hai, is set to expand its presence in India by venturing beyond product assembly and diving into key component production. The company, which initiated its operations in India back in 2005, has witnessed remarkable growth in terms of revenue, workforce, and investment in the country. This strategic shift was confirmed by Young Liu, the CEO and Chairman of Hon Hai Technology Group, during a recent quarterly earnings conference call. Although Foxconn is renowned for its role as a primary supplier to Apple and other smartphone manufacturers, it is now poised to take a proactive stance in India’s competitive market by focusing on essential components. Continue Reading

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