The electronics outsourcing giant will move some of its factories from China to India to benefit from much lower labor costs.
From the Chinese dragon to the Indian elephant. This is a major strategic shift that is slowly beginning at Foxconn, the global electronics outsourcing giant and leading manufacturer of Apple’s iPhone.
The Taiwanese group has announced that it will begin this year to move some of its factories from China to India to be able to produce on the spot, at a lower cost, the last phones of the brand to the apple. “In the future, we are going to play a major role in the smartphone industry in India,” Group CEO Terry Gou told Bloomberg, who also said he would leave the company’s operational management. Foxconn. We have already relocated our production lines in the country. “