Skip to content
Search

Latest Stories

iPhone maker Foxconn buys large site in Bengaluru

Foxconn is the world’s biggest contract electronics manufacturer and a principal assembler of Apple iPhones

iPhone maker Foxconn buys large site in Bengaluru

Taiwanese electronics giant Foxconn has bought a huge tract of land on the outskirts of Indian tech hub Bengaluru, the key Apple supplier said in a filing Tuesday (9).

Also known by its official name, Hon Hai Precision Industry, Foxconn is the world's biggest contract electronics manufacturer and a principal assembler of Apple iPhones.

Both companies are seeking to diversify away from China, where much of their manufacturing is based, after strict Covid policies in recent years and ongoing diplomatic tensions with the United States hurt production.

The 1.2 million-square-metre (13 million-square-foot) acquisition in Devanahalli, near the airport for Indian tech hub Bengaluru, was announced in a statement to the London Stock Exchange.

Its subsidiary Foxconn Hon Hai Technology India Mega Development was paying Rs 3 billion (£29.3 million) for the site, it said.

Another Foxconn unit was acquiring land use rights to a 480,000-square-metre site in Vietnam's Nghe An province, it added.

Karnataka state chief minister Basavaraj S Bommai said in March that Apple would "soon" manufacture iPhones at a new plant in the state, creating "about 100,000 jobs".

Bloomberg News reported that month that Foxconn was planning to invest $700m (£554.9m) in a new factory in Karnataka the same month, citing unnamed sources.

Foxconn chairman Young Liu visited the state then to "deepen partnerships... and seek cooperation in new areas such as semiconductor development and electric vehicles", he said in a statement.

He also met Prime Minister Narendra Modi, who said the pair's "discussions covered various topics aimed at enhancing India's tech and innovation eco-system".

Foxconn has manufactured Apple handsets in India since 2019 at its plant in the southern state of Tamil Nadu.

Two other Taiwanese suppliers, Wistron and Pegatron, also manufacture and assemble Apple devices in India.

Apple has been making its own push into India and chief executive Tim Cook last month opened its first two retail stores in the world's most populous country.

The California-based firm is betting big on the nation of 1.4 billion people - home to the second-highest number of smartphone users in the world, after China.

The world's biggest company in terms of market value is also expanding its manufacturing footprint in India.

Apple said last September it would manufacture its latest iPhone 14 in India, just weeks after launching the flagship model.

The country last year accounted for seven per cent of Apple's iPhone production, according to Bloomberg, lagging behind the United States, China, Japan and other countries.

Apple's expanding manufacturing in India is a boost to Modi's "Make in India" strategy, under which he has urged foreign businesses to manufacture goods in the South Asian nation.

(AFP)

More For You

Campbell Wilson

Air India CEO Campbell Wilson steps down as Air India Express chair

Air India CEO Campbell Wilson steps down as Air India Express chair

AIR INDIA CEO Campbell Wilson is stepping down as chair of Air India Express, the airline’s low-cost subsidiary. He will be replaced by Nipun Aggarwal, Air India’s chief commercial officer, according to an internal memo sent on Tuesday.

Wilson will also step down from the board of Air India Express. Basil Kwauk, Air India’s chief operating officer, will take his place.

Keep ReadingShow less
Air India eyes Boeing jets rejected by Chinese airlines: report

Tata-owned Air India is interested in purchasing jets that Chinese carriers can no longer accept (Photo credit: Air India)

Air India eyes Boeing jets rejected by Chinese airlines: report

AIR INDIA is seeking to acquire Boeing aircrafts originally destined for Chinese airlines, as escalating tariffs between Washington and Beijing disrupt planned deliveries, reported The Times.

The Tata-owned airline, currently working on its revival strategy, is interested in purchasing jets that Chinese carriers can no longer accept due to the recent trade dispute. According to reports, Tata is also keen to secure future delivery slots should they become available.

Keep ReadingShow less
Infosys forecasts lower annual growth after Trump tariffs cause global uncertainty

The IT service firm said its revenue would either stay flat or grow by up to three per cent

Getty Images

Infosys forecasts lower annual growth after Trump tariffs cause global uncertainty

INDIAN tech giant Infosys forecast muted annual revenue growth last Thursday (17) in an outlook that suggests clients might curtail tech spending because of growing global uncertainty.

The IT service firm said its revenue would either stay flat or grow by up to three per cent in the fiscal year through March 2026 on a constant currency basis. The sales forecast was lower than the 4.2 per cent constantcurrency revenue growth Infosys recorded in the previous financial year.

Keep ReadingShow less
UK retailers

For many retailers, this has meant closing stores, cutting jobs, and focusing on more profitable business segments

Getty

6 UK retailers facing major store closures in 2025

In 2025, several UK retailers are experiencing major store closures as they struggle to navigate financial pressures, rising operational costs, and changing consumer behaviours. These closures reflect the ongoing challenges faced by traditional brick-and-mortar stores in an increasingly digital world. While some closures are part of larger restructuring efforts, others have been driven by financial instability or market shifts that have forced retailers to rethink their business strategies. Let’s take a closer look at six major UK retailers affected by these trends.

1. Morrisons

Morrisons, one of the UK's largest supermarket chains, is undergoing a significant restructuring in 2025. The company has announced the closure of several in-store services, including 52 cafés, 18 Market Kitchens, 17 convenience stores, and various other departments. This move is part of a larger strategy to streamline operations and address rising costs. Morrisons’ parent company, CD&R, has been focusing on reducing overheads and refocusing on core services.

Keep ReadingShow less
Starmer Trump

The UK is seeking an agreement with the US to remove Trump’s 10 per cent general tariff on goods and the 25 per cent tariff on steel and cars.

Getty Images

Industry warns Starmer: Strike deal with US or face factory job losses

FACTORY owners could begin laying off workers within months unless prime minister Keir Starmer secures a trade agreement with US president Donald Trump, MPs have been told.

Make UK, an industry lobby group, told the business and trade select committee that tariffs on British exports were reducing demand for UK-manufactured goods.

Keep ReadingShow less