Hon Hai Precision Industry Co. has invested approximately USD 1.5 billion into its India operations as part of a long-term investment strategy to expand iPhone production capabilities. The investment, executed through subsidiary Foxconn Singapore Pte Ltd, involved the acquisition of shares in Yuzhan Technology (India) Private Limited and a significant capital increase.
The investment comes as Apple seeks to shift a larger share of iPhone production to India, with plans to import most of the devices sold in the US from the country by the end of next year. The move is seen as part of a broader strategy to diversify manufacturing locations amid geopolitical and trade-related uncertainties.
Apple assembled approximately USD 22 billion worth of iPhones in India during the 12 months through March 2025, marking a production increase of nearly 60% compared to the previous year. The majority of these devices were assembled at Hon Hai’s southern India facility.
Between March 14 and May 19, 2025, Foxconn Singapore acquired 9,999 shares of Yuzhan Technology at INR 10 per share from its affiliate Foxconn Technology (India) Private Limited, amounting to INR 99,990. In addition, a capital increase involving 12,773,535,400 new shares at INR 10 each brought the total transaction value to approximately INR 127.7 billion (about USD 1.489 billion). The investment structure was adjusted internally, and no cash was applied for the capital increase.
Following the transaction, Foxconn Singapore holds 99.99% of Yuzhan Technology, representing 12,773,545,399 shares. A single additional share is held by Foxconn Image & Printing Product Pte. Ltd. There are no restrictions on rights or pledges associated with the shares.
The transaction was approved by the board of directors and involved a related party. The decision was based on internal valuation, and no external broker or fee was involved. The company stated that the purpose of the investment is long-term in nature. The investment accounts for 23.34% of total assets and 7.46% of owners’ equity as per the most recent financial statement. The reported operating capital stands at NTD -252.4 billion.
Other suppliers involved in Apple’s India operations include Tata Group’s electronics manufacturing division, which took over Wistron Corp.’s local business and oversees operations of Pegatron Corp. in the country.
Hon Hai is also expanding its investments in the United States to reduce exposure to potential trade tensions and tariffs. Apple, which primarily manufactures iPhones in China, has announced plans to increase domestic employment and commit USD 500 billion in US spending over the next four years.
Hon Hai Precision Industry Co., also known as Foxconn, is a Taiwan-based electronics manufacturer and major assembler of consumer electronics, including Apple’s iPhones. The company operates production facilities in multiple countries and has been increasing its presence in India in recent years.