iPhone supplier Foxconn will build a factory in India, moving away from China: Report

Posted March 5th, 2023 by Brahm Canzer & filed under Company Analysis, Economic Analysis, Financial analysis, Financial Planning, Governments & Regulators, Growth & Valuation, Industry Analysis, Management Issues, Personal Finance.

Description: Foxconn, one of Apple’s largest suppliers and a major manufacturer of iPhone components, will invest about $700 million to build a new plant in India’s Karnataka state, Bloomberg reported Friday. The report comes as U.S. companies continue to reevaluate their reliance on China in the wake of mounting tension between the U.S. and the Chinese government.

Source: CNBC.com – video report

Date: Mar 03, 2023

Link: https://www.cnbc.com/2023/03/03/iphone-supplier-to-build-factory-in-india-a-further-pivot-from-china-report.html

Questions for discussion:

What does the report say about the direction taken by Apple and Foxconn?
What does this investment announcement mean for the companies and future investment in India?
How should investors interpret this announcement?