iPhone Maker Foxconn Boosts India Unit With $500 Mn Infusion
Image Credit: communication today
Taiwan-based electronics manufacturer Foxconn has invested $500 Mn in its Indian subsidiary, Foxconn Hon Hai Technology India Mega Development. iPhone maker's Singapore arm picked up 4.08 Bn shares of the Indian affiliate at a price of INR 10 per share, the company said in a regulatory filing with the Taiwanese stock exchange. The announcement comes at a time when the company is looking at India as another base for iPhone production.