Apple is looking for the end of next year to import most of the iPhones for sale in the United States, from India.
Foxconn, the main iPhone manufacturer for Apple, announced an investment of $ 1.5 billion in the Indian unit. According to Bloomberg, the investment was conducted through the Singapore’s Singapore subsidiary.
According to a submission to the London Stock Exchange, Singapore’s subsidiary Foxconn will get 12.77 billion sharing 10 rupees each equivalent to 127.74 billion Rupees ($ 1.5 billion) in Yuzhan Technology India.
Yuzhan Technology India is located in Tamilnad (south of India) and specializes in the manufacture of electronic components and iPhone assembly for Apple.
Apple aims to import most of the iPhones sold to the United States at the end of next year, which has led to criticism from Donald Trump – he personally asked the Apple General Tim Cook, to stop the development of new plants in India, emphasizing the need to focus on labor in the United States.
During the period from April 2023 to March 2024, Apple raised the iPhone to $ 22 billion in India, which meant production growth of 60% compared to last year.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.