In what can be claimed as yet another feather in the cap for the “Make in India” initiative, the move by Foxconn is seen as the company’s plan to replicate its successful Chinese manufacturing model in India to gain a market share in the smartphone section.
Foxconn is expected to set up manufacturing units in multiple cities across the country. The second manufacturing unit is slated to be opened in Gurugram.
The sales in India have seen stupendous growth for the company, reflecting a 50% growth on YoY basis, for the period ended September 2016.
India and China remain the fastest growing market for smartphone manufacturers like Apple.
- Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
- Now Save Rs.3150 on your Demat Account ...Click here
- Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
- Get the most detailed result analysis on the web - Real Fast!
- Actionable & Award-Winning Research on 500 Listed Indian Companies.