Foxconn To Invest $600 Million To Set Up iPhone Component, Chipmaking Equipment Units In Karnataka

Taiwan's Foxconn is reportedly planning to invest $600 million in two manufacturing projects in Karnataka, according to a state government statement.

One of these projects will be a partnership with United States-based Applied Materials, the statement said, Reuters reported.

As part of the investment, Foxconn will invest $350 million to establish a unit for manufacturing smartphone components for the iPhone.

This project is expected to generate 12,000 employment opportunities.

Foxconn's move comes as the company aims to expand its presence in the Indian market.

Earlier on 28 July, US chip maker AMD had announced plans to invest $400 million in India, including the construction of a new campus in Bengaluru, Karnataka.

This campus will serve as the company's largest design centre and is expected to open by the end of 2023.

It will feature state-of-the-art collaboration tools, extensive lab space, and seating configurations designed to promote teamwork.

The announcement was made by AMD executive vice-president and Chief technology officer Mark Papermaster during the Semicon India 2023 event in Gujarat.