Taiwanese electronics giant Foxconn is planning to invest $1 billion to set up a smartphone display module assembly unit in Tamil Nadu.
This will be Foxconn’s first display facility in India, aimed at supplying Apple’s iPhone production. Foxconn has already acquired 500,000 sq ft at the ESR Oragadam Industrial & Logistics Park, near its existing smartphone assembly plant in Chennai. By assembling locally, the company hopes to reduce dependence on Chinese imports, which currently make up 60–65% of display modules.