iPhone Maker Foxconn Boosts India Unit With $500 Mn Infusion
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Content TeamImage 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.