Apple partner Hon Hai injects $1.5 billion into India unit

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Hon Hai Precision Industry Co., the main manufacturer of Apple Inc.’s iPhones, will inject $1.5 billion into its India unit as production shifts away from China.

The Taiwan-based company said in an exchange filing on Monday that it had made the investment through its Singaporean subsidiary. Hon Hai, which is building new plants and adding production capacity in southern India, didn’t immediately respond to an emailed request for comment.

Apple is looking to import most of the iPhones it sells in the US from India by the end of next year, drawing…



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Apple partner Hon Hai injects $1.5 billion into India unit


Hon Hai Precision Industry Co., the main manufacturer of Apple Inc.’s iPhones, will inject $1.5 billion into its India unit as production shifts away from China.

The Taiwan-based company said in an exchange filing on Monday that it had made the investment through its Singaporean subsidiary. Hon Hai, which is building new plants and adding production capacity in southern India, didn’t immediately respond to an emailed request for comment.

Apple is looking to import most of the iPhones it sells in the US from India by the end of next year, drawing…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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