To download APD News app

1. Please scan the QR Code 2. Download and install APD News App

Foxconn, Samsung apply for India's smartphone scheme

World2020-08-02

FoxconninShanghai,China,June20,2020/VCGPhotoAppleIncssupplierFoxconn,WistronCorpandPegatronCorphaveappliedforfundsfromIndias6.65billionU.S.dollarsschemetoboosts

Foxconn in Shanghai, China, June 20, 2020/VCG Photo

Apple Inc's supplier Foxconn, Wistron Corp and Pegatron Corp have applied for funds from India's 6.65 billion U.S. dollars scheme to boost smartphone manufacturing, Indian technology minister said on Saturday.

The production-linked incentive (PLI) plan offers companies cash incentives on additional sales of devices made locally over five years, with 2019-2020 as the base year. India wants to become a global smartphone export hub like China.

Apple assembles some smartphones, including the iPhone 11, at Foxconn and Wistron's plants in two southern Indian states.

Pegatron, one of Apple's top suppliers, has yet to open a plant in India, but is in talks with various states to set up operations, according to sources. Pegatron officials could not immediately be reached for comment.

South Korea's Samsung Electronics Co Ltd has also applied for incentives under the plan, technology minister Ravi Shankar Prasad told a news conference.

Samsung has a plant on the outskirts of New Delhi that it describes as the world's biggest mobile phone manufacturing plant. It also exports devices from the factory.

Lava, which once assembled models for China's Lenovo, was among the Indian companies which have sought funds, Prasad added.

A total of 22 firms have applied to the scheme, which the government expects will generate smartphone production worth 154 billion U.S. dollars and create 300,000 direct jobs over five years.

With more than one billion wireless subscribers, of which about a third rely on basic handsets, India provides huge growth prospects for smartphone makers, as well as offering cheap labor.

Foxconn plans to invest up to one billion U.S. dollars to expand a factory in Tamil Nadu state where it assembles iPhones, sources told Reuters last month.

(CGTN)

Hot Recommended