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Hon Hai Eyeing India Expansion
By Vincent Wang
Published: Jan 15,2016
TAIPEI, Taiwan — Hon Hai Precision Industry Co. (Foxconn), the world’s largest contract electronics maker, is planning to expand its production facilities in India in the next six months in an attempt to turn its production base into a global hub, Indian media reported on Thursday.
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According to the Hindustan Times, Hon Hai is looking to extend its presence in India to new states.
At present, the company operates facilities in Sri City in Andhra Pradesh, Sriperumbudur in Tamil Nadu and Navi Mumbai in Maharashtra. It is also in the process of setting up a new plant in Maharashtra.
As a matter of fact, Indian media reported that Hon Hai has teamed up with Chinese smartphone brands such as OnePlus, Gionee, Xiaomi and OPPO, as well as Japan’s Sony Corp and Asustek Computer Inc., to produce devices at its Indian production bases.
Meanwhile, Hon Hai is set to offer to invest about $5.9 billion in Sharp Corp., Japanese media, the Daily Yomiuri reported, upping its proposal and sending shares in the troubled Japanese display maker soaring.
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