Foxconn plans to invest $1.5 billion in India

Taiwanese Foxconn company, manufacturing electronic devices for Apple iPhones and many another companies want to reduce their dependence on China and continues to invest in India . According to Foxconn's stock exchange announcement, the country is expected to receive a full of about $1.5 billion (about €1,33 billion).

According to the stock exchange announcement, the Singapore branch plans to acquisition 12.77 billion shares of the Indian subsidiary Yuzhan Technology, after 10 rupees (10 cents each). No further details were initially disclosed.

India is becoming an increasingly crucial outlet, besides for Apple, for which Foxconn produces iPhones. Head of Apple, Tim Cook (64), stated in early May that “most sold in USA The iPhones ” will come from India this quarter. The reason for the relocation of production is the tariff dispute between China and the USA.

Initially, the United States demanded a 145% work on Chinese goods, but late lowered it after an agreement with the People's Republic of China was concluded. Nevertheless, manufacturers search possible alternatives in the event of a re-escalation of the trade conflict.

According to reports from local media, the Indian branch of the company produces components for smartphones in the state of Tamilnadu in the south of India. Apple's decision to increase investment in India did not bring a storm of joy to the US president Donald Trump. Trump said last week in Dosze that he was not curious in the fact that Apple now produces more products in India alternatively than in China. He wants Apple to produce in the United States.