Apple supplier Foxconn has reconfirmed its intentions to build factories in India, with officials telling ministers from the state of Maharashtra that it will invest $5 billion building plants in the country.
Maharashtra Chief Minister Devendra Fadnavis is said to be working with Foxconn to help find suitable land in the state to fit the iPhone maker’s demands.
Apple wants the right to import and sell refurbished iPhones in India, according to a new report.
The company previously tried to roll out a similar scheme, only to have it squashed by a consortium of local smartphone OEM rivals. This time, however, Apple has the bargaining chip that it plans to manufacture iPhones in India working in its favor.
Apple will begin manufacturing iPhones in India by the end of April.
Its factory in Bangalore, Karnataka, will be run by Wistron, and all of the devices it produces will be sold locally. Apple will be hoping that the move can bolster the iPhone’s presence in India, where it has somewhat struggled in the past due to its high price tag.
Apple is set to reveal its first quarterly earnings report of 2017 and, if Wall Street’s estimates are any indicator, it could be Apple’s biggest quarter ever.
After multiple quarters of declining revenues, today’s call could see the company return to growth, lifted by strong iPhone sales over the holidays and a burgeoning services business that has quickly become Apple’s second-biggest moneymaker.
Tim Cook and Luca Maestri are scheduled to hold an open call with investors today at 2 p.m. Pacific. As usual, Cult of Mac will be here liveblogging and analyzing all the action. Get prepped for the call with our guide on what to expect, and join the fun in the liveblog below.
Apple is currently weighing up the possibility of building new manufacturing facilities in India. Its decision rests on whether it can strike a deal over perks with the Indian government. Here are some of the things the company is requesting.