Foxconn to quadruple Indian iPhone factory workforce in next two years: report
Foxconn, also known as Hon Hai Precision (OTCPK: HNHPF), the number of workers at its factory in India that makes iPhones for Apple will increase (Nasdaq:AAPL) by four times Over the next two years, Reuters mentioned.
The news outlet, citing two government officials familiar with the matter, indicated that the India plant is part of Foxconn and Apple (AAPL) Plans to move production out of China. Reuters added that Foxconn will raise its workforce at its plant in Tamil Nadu to 70,000, adding an additional 53,000 workers.
Earlier this week, Apple (AAPL) warned iPhone 14 shipments drop due to COVID-19 lockdowns in Zhengzhou, China at a Foxconn assembly facility. “The facility is currently operating at significantly reduced capacity,” Apple said.
In September, the investment firm JP Morgan I suggested Apple could shift a quarter of its iPhone production to India by 2025 and expects 5% of its iPhone production this year to move to the country.
apple (AAPLIt has been producing iPhone units in India since 2017, when it started with the iPhone SE.
On Thursday, Foxconn, an Apple company (AAPL) the largest partners, said it would adjust production levels to prevent a COVID-19 shutdown at its plant in Zhengzhou, China From the negative impact on vacation requests.
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