Apple Inc. AAPL is reportedly pushing forward with a major supply chain expansion in India through its top manufacturing partner, Foxconn, also known as Hon Hai Precision Industry Co. Ltd. HNHAF.
What Happened: Foxconn plans to invest $1.5 billion in a new display module plant near Chennai, India, reported the Financial Times, citing two government officials.
The facility will assemble screen components for iPhones, including the touch interface and brightness control.
Foxconn on Monday confirmed a $1.5 billion investment through a London Stock Exchange filing via its Indian unit, the report said.
Don't Miss:
- Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — this is your last chance to become an investor for $0.80 per share.
- Nancy Pelosi Invested $5 Million In An AI Company Last Year — Here's How You Can Invest In Multiple Pre-IPO AI Startups With Just $1,000.
Why It's Important: The investment comes as Apple deepens its manufacturing footprint in India, a move that reportedly aims to source all 60 million iPhones sold annually in the U.S. from Indian facilities by the end of next year.
However, the strategy is drawing political criticism. Earlier this month, President Donald Trump blasted Apple CEO Tim Cook.
"I had a little problem with Tim Cook yesterday," Trump said. "I said to him, ‘my friend, I treated you very good. You're coming here with $500 billion, but now I hear you're building all over India.' I don't want you building in India."
"I said, ‘Tim, look, we treated you really good, we put up with all the plants that you built in China for years, now you got to build us. We're not interested in you building in India, India can take care of themselves … we want you to build here,'" Trump said.
Following this, Indian sources said that Apple has reaffirmed its commitment to India as a key manufacturing hub, stressing that there has been “no change” in the tech giant's investment plans.
According to Counterpoint Research, India contributed 18% of global iPhone production in 2024 and is projected to reach 32% in 2025, the report added.
Read Next:
- Hasbro, MGM, and Skechers trust this AI marketing firm — Invest before it's too late.
- ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share with a $1000 minimum.
Photo courtesy: jamesteohart / Shutterstock.com
Edge Rankings
Price Trend
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.