Foxconn Invests $1.5 Bn In Tamil Nadu Unit

Apple supplier Foxconn has invested $1.48 billion (around ₹12,800 crore) in its India unit over the past five days, according to a regulatory filing. 

The investment was made in its Tamil Nadu-based unit, Yuzhan Technology (India) Private Limited, through its Singapore arm.

As part of the deal, Foxconn Singapore Pte bought 9,999 shares of Yuzhan Technology at ₹10 each, paying a premium, which brought the total investment to $1.489 billion.

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This investment comes as Apple looks to boost iPhone production in India.

Apple CEO Tim Cook said that, during the June quarter, most iPhones sold in the U.S. will be made in India. Meanwhile, China will continue making most of the iPhones for other countries, as trade tariff concerns remain.

Foxconn has reportedly more than doubled its revenue in India to over $20 billion (around ₹1.7 lakh crore) in FY25, thanks to a sharp rise in iPhone production.

According to S&P Global, 75.9 million iPhones were sold in the U.S. in 2024, while India exported 3.1 million iPhones in March alone. This suggests Apple may need to either increase production or shift more units meant for the local market to meet U.S. demand.

Government officials say that 15% of all iPhones made worldwide now come from India.

Sources also shared that Apple plans to make about 60 million iPhones in India this financial year.

In April, Union Minister Ashwini Vaishnaw said India’s mobile phone exports hit a record ₹2 lakh crore in FY25, with iPhones making up ₹1.5 lakh crore of that total.

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