Title: Foxconn’s Revenue from India Doubles to ₹1.7 Lakh Crore
The tech industry has been witnessing a surge in growth, and Foxconn, the world’s largest electronics manufacturer, is no exception. According to recent reports, Foxconn has more than doubled its revenue from India to over ₹1.7 lakh crore (approximately $20 billion) in the fiscal year 2024-25. This significant growth is attributed to the soaring production of iPhones, which has led to a substantial increase in the company’s workforce.
Foxconn’s revenue boost is a testament to the company’s strategic expansion in India, which has been a key focus area for the company in recent years. The company has been investing heavily in the Indian market, setting up new facilities and increasing its production capacity to cater to the growing demand for its products.
One of the primary drivers of Foxconn’s revenue growth in India is the ramp-up in iPhone production. Apple, Foxconn’s largest customer, has been increasing its production in India to reduce its dependence on China, which has been grappling with a severe COVID-19 outbreak. Foxconn has been expanding its production capacity in India to meet this increased demand, leading to a significant surge in its revenue.
The workforce at Foxconn’s Indian operations has also seen a substantial increase, jumping by 65 percent to 80,000 employees. This massive expansion is a testament to the company’s commitment to India and its ambition to become one of the largest employers in the country.
In addition to its iPhone production, Foxconn is also expanding its presence in India through new facilities and partnerships. The company has recently set up a new facility in Bengaluru, which will focus on producing high-end smartphones and other electronic devices. Additionally, Foxconn has entered into a partnership with HCL to set up a joint venture for semiconductor manufacturing.
This joint venture, which is expected to be operational by the end of 2025, will enable Foxconn to tap into the growing demand for semiconductors in India. The country’s government has been actively promoting the development of the semiconductor industry, and Foxconn’s joint venture with HCL is expected to be a major boost to this initiative.
Another significant development for Foxconn in India is the start of AirPods exports from Hyderabad. The company has set up a dedicated facility in Hyderabad to produce AirPods, which are one of the most popular Apple products. The facility is expected to produce over 10 million units of AirPods per month, making it one of the largest AirPods manufacturing facilities in the world.
Foxconn’s expansion in India is not limited to its production facilities and workforce. The company is also investing heavily in research and development (R&D) in the country. Foxconn has set up a state-of-the-art R&D center in Bengaluru, which will focus on developing cutting-edge technologies such as 5G, artificial intelligence, and the Internet of Things (IoT).
The company’s R&D center in Bengaluru is expected to be a major hub for innovation, with a team of over 1,000 engineers and researchers working on developing new technologies and products. The center will also collaborate with other Foxconn facilities around the world to develop new products and solutions.
In conclusion, Foxconn’s revenue from India has more than doubled to ₹1.7 lakh crore, driven by soaring iPhone production, a surge in workforce, and new facilities in Bengaluru and Hyderabad. The company’s joint venture with HCL for semiconductor manufacturing and its entry into AirPods exports are expected to be major growth drivers in the coming years. As Foxconn continues to expand its presence in India, it is likely to play a significant role in the country’s tech industry, driving innovation and growth.
Source:
https://trak.in/stories/foxconns-revenue-from-india-crosses-rs-1-7-lakh-crore-80000-employees/
