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00:00:01
>> The world's biggest electronics contract manufacturer, Foxconn, best known for it's iPhone factories in China will for the first time, be assembling top end iPhones in India as well. In an exclusive report, a source told Reuters that the Foxconn plant in the Southern State of Tamil Nadu, which already makes China's Xiao Mi phones, will be expanded to build iPhones.
00:00:23
Foxconn plans to invest over $350 million and the investment may create as many as 25,000 jobs, according to an Indian minister. Reuters Apple correspondent, Stephen Nellis.>> For Apple, manufacturing higher end iPhones in India helps solve two problems. Number one, it helps them reduce the amount of duties and taxes that their phones face in India which can make their top end models like the iPhone X family with the Face ID system extremely expensive.
00:00:53
And number two, it also helps to decrease Apple's dependence on China for manufacturing. While items like cellphones haven't yet been hit in the trade war between China and the United States, there's still some risk that they might be. And a lot of companies are looking at how to broaden their manufacturing base to not have it so concentrated right in China
00:01:13
>> Until now, the Cupertino tech giant only assembled the lower cost iPhone SE and 6S models in India with another contract manufacturer Wistron. And sales in India have been focused on lower end phones. Apple declined to comment for the story and full details of its deal with Foxconn aren't yet clear and could change.
00:01:34
Vietnamese state media also reported this month that Foxconn, a Taiwanese company, is considering setting up a factory in Vietnam. If that goes ahead, it'll be one of the biggest recent steps by a major company to secure an additional production base outside of China.