Foxconn aims to double investment, jobs in India in a year
BING-JHEN HONG
Foxconn Technology (OTCPK:FXCOF) aims to double its workforce and investment in India by next year, according to a company executive.
The Apple (AAPL) supplier â which is formally known as Hon Hai Precision (OTCPK:HNHAF) (OTCPK:HNHPF) â has swiftly expanded its presence in India by investing in manufacturing plants in the country.
"We will work even harder to present you with a greater birthday gift next year, aiming for another doubling of employment, FDI, and business size in India," said V Lee, Foxconn's representative in India, in a LinkedIn post on Sunday on the occasion of Indian Prime Minister Narendra Modi's birthday.
In August, it was reported that Foxconn would invest $600M in two manufacturing projects in the Indian state of Karnataka, including one which will be in collaboration with Applied Materials. The company plans to invest $350M to establish a unit to produce components for smartphones, including for Apple's iPhone.

More on Foxconn Technology

Historical earnings data for Foxconn Technology Co., Ltd.
Dividend scorecard for Foxconn Technology Co., Ltd.
Hon Hai: Q2 Results Missed Expectations (Rating Downgrade)
Foxconn founder Terry Gou steps in Taiwan's presidency race
Foxconn to spend $600M in India for iPhone parts, chip-making machinery - report
Foxconn EV unit sees India, Thailand as targets for new small car - report