Apple Supplier Foxconn Said to Invest $500 Million to Build Component Factories in India
Apple's main supplier, Foxconn Technology Group, plans to increase its investments to more than $1.2 billion (roughly Rs. 9,877 crore) in southern India's Karnataka state and add two component factories there, expanding a steady diversification from China to mitigate the risks of US economic and technology sanctions.At least one of the factories that the Taiwanese company plans to construct in Karnataka will produce Apple parts, including for iPhones, people familiar with the matter said. A formal announcement is expected…