Foxconn, Taiwanese Electronics Giant, has Procured Equipment Worth $31.8 Million (about Rs 267 crore) for its India Factory as it Gears up to Start Manufacturing of iPhone 16 Pro Series at its Tamil Nadu Unit

Foxconn, Taiwanese electronics giant, has procured equipment worth $31.8 million (about Rs 267 crore) for its India factory as it gears up to start manufacturing of iPhone 16 Pro Series at its Tamil Nadu unit, according to a regulatory filing and industry sources as detailed in a report by the Press Trust of India.

This is the first time Apple's high-end iPhone Pro series will be made in a country other than China, the PTI report detailed further.

Hon Hai Precision Industry Co. Ltd., trading as Hon Hai Technology Group in China and Taiwan, and known as Foxconn Technology Group internationally, is a Taiwanese multinational electronics contract manufacturer established in 1974 with headquarters in Tucheng District, New Taipei City, Taiwan.

In 2023, the company's annual revenue reached 6.16 trillion New Taiwan dollars (US$192 billion) and was ranked 20th in the 2023 Fortune Global 500.

It is the world's largest contract manufacturer of electronics.

While headquartered in Taiwan, the company earns the majority of its revenue from assets in China and is one of the largest employers worldwide.

Terry Gou is the company founder and former chairman.

Foxconn manufactures electronic products for major American, Canadian, Chinese, Finnish, and Japanese companies. Notable products manufactured by Foxconn include the BlackBerry,  iPad, iPhone, iPod, Kindle, all Nintendo gaming systems since the GameCube, Nintendo DS models, Sega models, Nokia devices, Cisco products, Sony devices (including most PlayStation gaming consoles), Google Pixel devices, Xiaomi devices, every successor to Microsoft's Xbox console, and several CPU sockets, including the TR4 CPU socket on some motherboards.

As of 2012, Foxconn factories manufactured an estimated 40 per cent of all consumer electronics sold worldwide.

Details of the Foxconn filing

In a filing, Foxconn said, "Subsidiary Foxconn Hon Hai Technology India Mega Development Private Limited announces obtaining of machinery equipment" with a total transaction amount of "$ 31,804,528.45" from "APPLE OPERATIONS LIMITED".

According to sources, the procurement has been done to add capacity in Foxconn's Tamil Nadu unit for manufacturing iPhone 16 Pro series smartphones.

Apple earlier this month announced that it will begin to roll out its first-ever "made in India" iPhone 16 Pro and iPhone 16 Pro Max series soon.

The supply of devices is expected to start late this month or early November.