Foxconn, the Taiwanese electronic contract manufacturer, which assembles Apple iPhones in India is reportedly planning to invest up to $1 billion in the country.
The manufacturer which also makes phones for Xiaomi had earlier revealed its plans to make more investments in India in order to boost its manufacturing capabilities here but the quantum of the same remained unknown.
The news agency Reuters first reported late Friday about the company's expansion and investment plans amid Apple's bid to partially move its production lines away from China to steer clear of potential problems arising out of deteriorating relations between Washington and Beijing.
Both Apple and Foxconn did not make any comments on the report. The manufacturer aims to invest in its Sriperumbur facility in Tamil Nadu over a period of three years. This is the plant where the Taiwanese company assembles Apple iPhone XR.
The Taipei-based company plans to manufacture some other iPhone models in India, which it currently makes in China.