Apple Supplier Foxconn Plans $500 Million Component Factories In India: All Details

News Snapshot:

Apple’s main supplier, Foxconn Technology Group, is planning to invest close to $500 million to build two component factories in India, Bloomberg News reported on Monday, citing people familiar with the matter. These factories will be built in the southern state of Karnataka and at least one of them will produce Apple parts, including for iPhones, the report said. The exact locations of the new plants in the state are yet to be decided and a formal announcement is expected as early as this week. Foxconn and Apple did not immediately respond to Reuters requests for comment. Karnataka has already...