According to a file that was made on Tuesday, the Taiwanese electronics company Foxconn has purchased a massive plot of land on the outskirts of Bengaluru. Apple is Foxconn’s primary supplier. The acquisition of 1.2 million square metres (13 million square feet) of space at Devanahalli, which is located close to Bengaluru International Airport, was detailed in a statement.
Foxconn, a major Apple supplier, disclosed in a filing on Tuesday that it has acquired a sizeable plot of property in Bengaluru. This news comes just a few days after the business opened its first two stores in India.
The company released a statement to the London Stock Exchange announcing that it had purchased a piece of property in Devanahalli that was close to the Kempegowda International Airport. The plot of land measured 13 million square feet. Foxconn is the principal iPhone assembler for Apple and the world’s largest contract electronics manufacturer. If you’re not familiar with the company, allow me to fill you in.
It was stated that its affiliate, Foxconn Hon Hai Technology India Mega Development, had paid three billion rupees for the property, which is equivalent to approximately $37 million.
The year 2019 marked the beginning of Apple smartphone production by Foxconn in India. It started making the product in its facility in Tamil Nadu, which is located in India. Apple products are manufactured and assembled in India not only by Foxconn but also by Wistron and Pegatron, two other Taiwanese vendors.
Karnataka’s Chief Minister Basavaraj S. Bommai made the announcement earlier this month that Apple would “soon” begin manufacturing iPhones in the state, which would result in the creation of approximately 100,000 new jobs.
Foxconn Chairman Young Liu travelled to the state around that time in order to “deepen partnerships” and “seek cooperation in new areas such as the development of semiconductors and electric vehicles,” according to a statement he released after his trip. Additionally, he met with the Prime Minister of India, Narendra Modi, with whom he had “discussions covering various topics aimed at enhancing India’s tech and innovation eco-system,” according to the Prime Minister.
As part of Apple’s own push into India, Chief Executive Tim Cook revealed the company’s first two retail outlets in the country last month. India is the world’s most populated nation. The corporation, which is based in California, is laying a huge wager on the country, which has a population of over 1.4 billion people and has the second-highest percentage of smartphone users worldwide, behind China.