Foxconn to raise workforce at Indian iPhone plant by four times in next two years: report - Seeking Alpha

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Foxconn, besides known arsenic Hon Hai Precision (OTCPK:HNHPF), volition summation the fig of workers astatine its works successful India that builds iPhones for Apple (NASDAQ:AAPL) by a origin of four implicit the adjacent 2 years, Reuters reported.

The quality outlet, citing 2 authorities officials with cognition of the matter, noted that the India works is portion of Foxconn and Apple's (AAPL) plans to displacement accumulation retired of China. Reuters added that Foxconn volition rise its workforce astatine its works successful Tamil Nadu to 70,000, adding an further 53,000 workers.

Apple (AAPL) said precocious that immoderate iPhone 14 accumulation would hap successful India.

Earlier this week, Apple (AAPL) warned of little iPhone 14 shipments due to the fact that of COVID-19 lockdowns successful Zhengzhou, China astatine 1 of Foxconn's assembly facilities. "The installation is presently operating astatine importantly reduced capacity," Apple said.

In September, concern steadfast J.P. Morgan suggested Apple could displacement a 4th of its iPhone accumulation to India by 2025 and expected 5% of its iPhone accumulation this twelvemonth to determination to the country.

Apple (AAPL) has been producing iPhone units successful India since 2017, erstwhile it started with the iPhone SE.

On Thursday, Foxconn, 1 of Apple's (AAPL) largest partners, said it would tweak accumulation levels to forestall COVID-19 lockdowns astatine its Zhengzhou, China works from negatively impacting vacation orders.