iPhone manufacturer Foxconn expands investment in Bengaluru unit, infuses Rs 461 crore more

Foxconn, the largest manufacturer of Apple iPhones, has invested $55.29 million in Foxconn Precision Engineering Private Limited in Bengaluru. The investment was made through its Singapore-based subsidiary. Foxconn is expected to create employment for 50,000 people in the first phase at Devanahalli, as announced by the Karnataka government. The manufacturing facility will be set up within the Information Technology Investment Region (ITIR) industrial area at Doddaballapur in Devanahalli Taluk. The plant aims to produce 1 lakh iPhones by December 2025, with investments spread over three phases.