Foxconn, the world’s biggest contract electronics manufacturer, has purchased a 1.2 million-square-metre (13 million-square-foot) site in Devanahalli near the Bengaluru airport for three billion rupees ($37 million) through its subsidiary, Foxconn Hon Hai Technology India Mega Development. The acquisition comes as the Taiwanese firm seeks to diversify production away from China, where much of its manufacturing is based, due to strict Covid policies and ongoing diplomatic tensions with the US. Foxconn also recently acquired land use rights to a 480,000-square-metre site in Vietnam’s Nghe An province. In India, Foxconn has been manufacturing Apple handsets since 2019 at its plant in Tamil Nadu. Meanwhile, Apple has been expanding its manufacturing footprint in India, recently launching its first two retail stores in the country. Apple CEO Tim Cook last year announced plans to manufacture the iPhone 14 in India and the country is seen as a key part of Apple’s strategy to boost its manufacturing presence outside of China.
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