The world's largest contract manufacturer of phones, Foxconn is planning to expand its operations locally next year. Company has already made $600 million investments in India. Soon after Indian PM Narendra Modi’s ‘Make in India’ initiative was successful, many phonemakers from China started making phones in India through Foxconn.
"Since last year, we have restarted operations and right now we're in finalizing 2017 plan, there will be more expansion,” Foxconn's head of India operations Josh Foulger told The Economic Times.
He added that Finnish giant Nokia, which is preparing for its come back, will also be made by Foxconn. The company along with HMD Global had bought Nokia's brand license and feature phones business from Microsoft earlier this year.
India, from a manufacturing standpoint, has logistic advantage, not just for India but for Middle East and Africa. The ASP of products is very similar. If you look at making India a manufacturing destination for 800 million phones, it looks very attractive, Josh Foulger further said. "India cost is competitive. It takes time but if managed well, it can bring results"
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