Sep 25, 2024 01:15 PM IST
Foxconn’s $1 billion investment in Tamil Nadu marks its first display module facility in India, aimed at supporting Apple’s iPhone production.
Foxconn may invest $1 billion to set up a facility in Tamil Nadu to assemble smartphone display modules, The Economic Times reported. This will be the first display module unit Foxconn has built in India and will support Apple’s iPhone production. Other manufacturers like Pegatron or Tata Electronics may also be able to use components from this facility, the report added.
An executive told the outlet that setting up local assembly units could reduce supply chain delays and costs which would benefit brands by shortening delivery times. Foxconn secured 500,000 square feet at an industrial park in Oragadam, near Chennai, which is next to its existing smartphone assembly plant.
Foxconn has rapidly expanding its smartphone business in India and also plans to enter other sectors like electric vehicles (EVs), batteries, and semiconductors.
At present, India imports the majority of its display modules, primarily from China and South Korea. Major global players in display modules include Samsung Display, BOE Technology, and LG Display, while local assembly is currently dominated by Chinese firms like TCL CSOT and TXD (India) Technology.