Active Stocks
Thu Sep 21 2023 15:54:10
  1. Tata Steel share price
  2. 127.8 -0.39%
  1. HDFC Bank share price
  2. 1,553.6 -0.66%
  1. NTPC share price
  2. 238.95 -1.1%
  1. Power Grid Corporation Of India share price
  2. 201.8 -1.42%
  1. ITC share price
  2. 447.4 -1.24%
Business News/ Companies / News/  Foxconn to start manufacturing iPhones in Bengaluru by April 2024

Karnataka government Thursday said Foxconn, a key Apple supplier, will start manufacturing iPhones at Devanahalli plant near Bengaluru airport by April 2024.

MB Patil, Minister for Large and Medium Industries in Karnataka, said Taiwanese electronics giant has plans to start manufacturing iPhones at its proposed Devanahalli plant. The state government would hand over the required land and other infrastructure facilities for the company by July 1 to facilitate the manufacturing process, the minister said. 

"The identified 300 acres of land at ITIR of Devanahalli would be handed over by July 1," Patil said. 

“The government would ensure providing water, quality power supply, road connectivity, and other infrastructure facilities to facilitate the manufacturing process"

Last month, the the world's largest contract electronics manufacturer informed that it had bought a huge tract of land in tech hub Bengaluru. In a statement to the London Stock Exchange, the company said it had acquired 1.2 million-square-meter land in Devanahalli, near the airport for Bengaluru.

The company has set a target of manufacturing 2 crore iPhones a year at the plant in Devanahalli.

Apple has been shifting production away from China after the country's strict COVID-related restrictions disrupted the production of new iPhones and other devices in the country. The tech giant is also looking to avoid a hit to its business due to tensions between Beijing and Washington.

The announcement comes just weeks after the new government led by Congress took over in Karnataka.


Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Updated: 01 Jun 2023, 07:41 PM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App