Foxconn is investing in India, Vietnam, and other countries as Apple hopes to diversify iPhone production out of China.
, Foxconn has invested $500 million in its Indian subsidiary. The company was able to inject the cash into Foxconn Hon Hai Technology India Mega Development Private Limited from its Foxconn Singapore Pte Ltd. unit.
Apple has to be concerned. With production in Zhengzhou using just 20% of its manufacturing capacity in November , the iPhone 14 Pro series is going to be in short supply this month and into January. That's not good, especially when you're in the holiday shopping season. This month, Kuo expects Foxconn to utilize 30% to 40% of its iPhone 14 Pro production capacity in Zhengzhou. That's better, but still far from normal.
Besides investing in India, back in August Foxconn agreed to sink $300,000 into a plant in Vietnam that will expand production there. Vietnam is another country, besides India, that Apple has reportedly considered as a replacement for China.The Wall Street Journal reported last week that Apple is getting more aggressive with its plans to move out of China completely. The article mentioned a couple of countries that we've discussed often as possible landing places for iPhone production , India and Vietnam.
Foxconn appears to be spreading its investments all over the place. Last week it spent $58.98 million on an investment in the Czech Republic. That is where the manufacturer makes smartphones, displays, and cloud servers. Foxconn also has research and development centers in that region. At the same time, Foxconn put $142 million into its unit in Taiyuan, China which it considers a long-term investment.is already moving some chip production from Taiwan to TSMC's U.S. fabs in Arizona.
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