Apple iPhone-maker Foxconn to increase production yield in India

Apple’s Taiwanese supplier (Hon Hai) Foxconn has announced that it will focus on increasing production yield in India. Hon Hai head Young Liu revealed his India plans at the earnings call after releasing its quarterly results.

During the call, Liu stated, “India has now reached a population of 1.4 billion people, translating to a large potential market for mid-to-high-end products which our clients are focusing on. Hence, it is necessary for us to continue to expand assembly and component operations in India”.

He further added that many manufacturers are investing and setting up more manufacturing plants in India. He emphasised that in terms of labour cost, India has the upper hand. Just like last year, the iPhone maker-supplier will continue to apply for government incentives to increase its competitiveness in the market.

Talking about the challenges while investing in new regions like India, Liu revealed that in addition to language, culture and manufacturing capabilities and supply chain completeness are the few challenges they are prepping up for.

After a lot of rumours around Foxconn buying land in Bengaluru, Lui clarified that the company has bought 300 acres of land in Bengaluru's Devanahalli taluk near the city's international airport at 3 billion rupees.

When asked about the stiff competition in the Indian market, Liu responded by saying that many players are still in the learning phase.

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Liu also talked about the schemes that helped Foxconn have a foothold in the Indian market. According to him, from 2006 back when it entered the Indian market, the company has learned how to manage the local employees, supply chain and logistics. Gaining this experience has helped Foxconn move faster than its competitors and expand quickly.  

Back in March this year, Karnataka Chief Minister Basavaraj Bommai stated that the world’s largest company by market value would “soon” manufacture iPhones at a new plant in the state and create around 1,00,000 jobs.

In March, Foxconn head Young Liu also met PM Narendra Modi who tweeted, “Had a good meeting with Mr. Young Liu. Our discussions covered various topics aimed at enhancing India’s tech and innovation eco-system.”

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