At $13.1 billion in the April-November period, handsets are now the second highest exported product from India
'Pegatron Technology India will undergo rebranding to reflect its new ownership structure and business direction,' says Tata Electronics
Apple is expanding its manufacturing network in India at a rapid clip, taking advantage of local subsidies, a skilled workforce and advances in the country’s technological capabilities.
Foxconn will start to assemble the premium devices 'within weeks' of the global launch, said Bloomberg News, quoting unnamed sources.
A company must achieve the minimum target on four parameters every year to be eligible for PLI. The targets are: incremental production value, exports, investment, and the freight on board (FoB) value.
Luxshare, founded by a formidable Grace Wang, a former "factory girl" from Shenzhen, now is only second to Foxconn.
After the deal, Pegatron is anticipated to assist Tata with manufacturing expertise, as per unnamed sources
Under the deal, which has received the backing of Apple, Tata plans to hold at least a 65% stake in a joint venture that will operate the Pegatron plant near Chennai, said a report
Auto major Hyundai Motors also committed 61.80 billion rupees, some of it earmarked for electric vehicle (EV) battery and car manufacturing, the government added.
In a blog post, Kuo said that Foxconn, which owns 80 percent of the production lines for iPhones in India, is expected to offload China production next year.
Pegatron said the cause of the accident is currently under investigation by relevant authority, and the incident does not have significant financial or operational impact
Pegatron plans to add a second facility near the southern city of Chennai in Tamil Nadu state, just six months after opening the first with an investment of $150 million, said the sources, who sought anonymity as the talks are private.
Pegatron becomes the second Apple supplier in India to produce the iPhone 14. The development comes after Apple’s iPhone Pro key manufacturing hub in the Chinese city of Zhengzhou was placed under an abrupt Covid-19 lockdown
The move comes as Zhengzhou, a key iPhone manufacturing hub in China, was placed under an abrupt Covid-19 lockdown by local authorities.
Taiwanese firm is the third Apple vendor to have set up a factory in India after Foxconn and Wistron.
Contrary to media reports, production has not halted, and there is no stoppage in shipments, the Taiwanese firm said.
The expected production for FY23 is more than twice the requirement needed to qualify for the production linked incentive scheme (PLI) which requires both Foxconn and Wistron to make iPhones worth Rs 8,000 crore each.
With the iPhone 13, Apple now makes all its top selling models locally through its two contract manufacturing partners Foxconn and Wistron.
The move is in line with Pegatron Corporation’s sanction of Rs 1,100 crore for its growth plans in the country through subsidiary Pegatron Technology India.
Pegatron registered its subsidiary in India in July 2020. It did not have operations in the country prior to this and began operations only in September
The US technology giant said that Pegatron had mis-classified student workers and falsified paperwork to disguise the violations.
India's new $6.65 billion production-linked incentive (PLI) scheme offers companies cash incentives on any increase in sales of locally-made smartphones over the next five years, compared with 2019-20 levels.
Taiwan-listed Hon Hai Precision Industry Co., which goes by the trade name Foxconn and is an assembler of the iPhones and iPads, slipped 0.82 percent to TUSD 84.80 at the open.
The agreement to design and market phones starting in Indonesia is a boon to a mega-manufacturer trying to grow its margins while making a play for a bigger slice of the global mobile devices market.
If the last rumour about Apple launching the iPhone 5 by the first week of October was anything to go by, the next rumour may definitely hold some weight.