Foxconn to Expand Operations and Make Nokia Phones in India Next Year
October 25, 2016
Foxconn is reportedly to expand its India operations next year on the back of the "Make in India" initiative, including plans to make mobile phones locally under the Nokia brand, according to India's Economic Times on October 23. Foxconn has restarted operations in India last year and is in the process of finalizing the 2017 plan. So far, the company has invested around US$600 million in the country. The move to manufacture Nokia phones comes after Foxconn and Finland's HMD Global Oy jointly acquired the feature phone business under the name Nokia from Microsoft for US$350 million earlier this year. Foxconn believes that India has great advantages in logistics and production costs, and can serve as an export hub to Middle East and Africa.