Foxconn is expected to increase its production capacity in India and may start mass production of the iPhone 13 in mid-2022.” Foxconn has also expressed its intention to participate in a $30 billion plan in India to promote the development of the local semiconductor industry chain, the first foreign manufacturer to do so. In February 2022, Foxconn announced that it would cooperate with Indian natural resources group Vedanta to set up a semiconductor factory in India. Vedanta will become the majority shareholder in the joint venture, with
Foxconn taking only a minority stake, the parties old picture restoration said in a statement. Meanwhile, Foxconn is expanding its production capacity in Vietnam. As of 2021, it has invested US$1.5 billion in Vietnam. In early 2021, the Vietnamese government approved a US$270 million investment bid from Foxconn to set up a notebook computer and tablet assembly plant there. Foxconn reportedly set up production lines at Apple's request to reduce risks stemming from U.S.-China trade tensions. Apple new machine on sale (2) Photo Credit: WebMD
Foxconn usually benefits when Apple moves production out of China. However, China remains Apple's most important manufacturing base, and with Chinese leader Xi Jinping's emphasis on technological self-sufficiency, it may be harder for Foxconn to compete with local Chinese manufacturers in the long run. In December 2021, the technology news site "The Information" reported that Apple signed a five-year, $275 billion secret investment agreement with China in 2016, which may be the basis for Luxshare and other Chinese suppliers in Apple.