Luxshare could see significant growth through 2023 and 2024 as Apple helps it build production lines in India while also offering it iPhone 16 Pro Max production.
Foxconn is making an investment of $500 million into new plants in India, a state IT minister tweeted, which will most likely be used in the production of AirPods for Apple.
Apple supplier Foxconn reported a 56% decline in first-quarter net profit, its biggest quarterly fall in three years, falling short of forecasts.
Foxconn is expanding its production in India and Vietnam, with the Apple assembly partner acquiring large stretches of land in both countries.
Foxconn chairman Young Liu has reassured workers at its Chengdu factory that it is an "important" base of production, despite Apple's discussions on diversifying manufacturing away from China and into other countries.
Apple's supply chain is rumored to be in the final mass production preparatory stages of the long-rumored Apple AR headset, with a "final push" underway to finalize techniques and assembly procedures.
After success in one region, Apple is seeking more labor reforms across India to move more manufacturing out of China.
Foxconn's previously announced new factory in Bengaluru, India, has now cleared local government approval — though at greater cost and with fewer jobs.
Six years and six months since AirPods were launched, Apple's biggest supplier Foxconn will expand into India to make them.
Apple supplier Foxconn reports that it is working to reduce its reliance on its parent firm's home country of China, and will diversify future production.
Apple's major iPhone supplier Foxconn saw its profits for the latest quarter drop a tenth compared to the year before.
Apple and manufacturing partner Foxconn have successfully lobbied for new labor regulations in southern Indian state of Karnataka in an effort to dial back reliance on Chinese manufacturing.
Apple manufacturing partner Foxconn plans to invest $700 million on an iPhone-focused plant in Bengaluru, India — a move to reduce reliance on China.
After a period of rapid expansion over the last few years, Apple and its suppliers have directly supplied 100,000 new jobs to the India workforce just in the last 19 months — and more are coming.
Apple assembly partner Foxconn is continuing its expansion push by renting a new plot of land in China, which will be used to build smart warehouses near its major iPhone factory.
Apple is continuing to shift parts of its supply chain out of China, and the latest move is an enormous Foxconn site in Vietnam.
Apple assembly partner Foxconn has installed a new chief of its iPhone business, with a change in leadership arriving after months of troubled iPhone 14 Pro production.
Display maker BOE is reportedly following Foxconn and Samsung in building new production facilities in North Vietnam, in part to produce iPhone screens.
Apple's supply chain is making its early-stage preparations for manufacturing the iPhone 15, with trial production of the 2023 models said to have started in China, though one change may also benefit production in India.
A source inside Foxconn claims that December 2022 iPhone orders were unchanged, refuting claims that Apple is cutting back after weak demand.
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Wesley Hilliard
Malcolm Owen
Andrew Orr
Mike Wuerthele
William Gallagher
Amber Neely
