Times of India — NEW DELHI: Online marketplace Snapdeal has raised $500 million (about Rs 3,269 crore) in a fresh round of funding from a clutch of investors led by Alibaba Group, Foxconn and SoftBank. Existing investors Temasek, BlackRock, Myriad and Premji Invest also participated in the latest funding round, Snapdeal said in a statement. The company had raised more than $1 billion, from investors including Softbank ($627 million) and iconic business leader Ratan Tata (personal investment).
Want China Times — Taiwan’s Asustek Computer confirmed on Tuesday it has teamed up with contract manufacturing giant Foxconn Technology Group (Hon Hai Precision Industry), a key supplier to Apple, to produce smartphones in India. Mass production of the assembly line is expected to begin at the end of August, with a monthly capacity of around 200,000 units, Asustek chief executive Jerry Shen told reporters after the company’s earnings briefing.
Digi Times — Foxconn Electronics will benefit the most for snapping up more windfall smartphone orders as handset vendors including Asustek Computer and Xiaomi Technology are foraying into the smartphone markets in India, Brazil and other emerging economies, according to industry sources.
Times of India — MUMBAI: Global electronic manufacturing giant Foxconn has announced it will invest $5 billion over the next five years in Maharashtra, which has given the Taiwan-based company 1,500 acres of land for its plant. Foxconn chairman Terry Gou said the facility in Maharashtra will focus on research and development as well as manufacturing, and the company has chosen the state for being a financial centre, availability of quality talent and software-hardware integration facilities.
Times of India — NEW DELHI: Foxconn, the world’s largest electronics assembly manufacturer, on Saturday said India would be the next IT hub for it while expressing a desire to open factories in all states in the spirit of the ‘Make in India’ initiative. ‘Make in India’ is one of Prime Minister Narendra Modi’s key initiatives. In an interview to CNBC-TV 18, Terry Gou, chairman of Taiwanese firm Foxconn, said, “We want to expand our base after setting it up in Pune. The Maharashtra government had encouraged us to come to India and invest in the state.”
Times of India — BEIJING: Indian online marketplace Snapdeal is set to raise $500 million from a group of foreign investors including China’s Alibaba Group Holding Ltd, three people familiar with the matter said on Monday. One of the people said the deal could be finalized within a few days at the earliest but may also take weeks.
Times of India — NEW DELHI: To counter Reliance Jio’s bid to capture the 4G services market with low cost bundled handsets, telecom major Bharti Airtel is planning to launch Airtel branded smartphones for Rs 4,000 by October-November. “Airtel is in advanced stages to finalise vendors to launch dual mode 4G handset in the price range of Rs 4,000-12,000. Negotiations are around if it should be only Airtel branded handset or co-branded handsets,” a industry source privy to the development said.
Digi Times — The Foxconn Group plans to establish 10-12 plants to create over one million job opportunities in India before 2020, according to chairman Terry Gou. The rise of the domestic market and clients’ demand for local production in India, including Apple, Microsoft and Xiaomai, has prompted Foxconn to consider building its production bases in the country, said sources at Taiwan’s handset supply chain.
Times of India — NEW DELHI: Foxconn Technology Group, the world’s largest contract manufacturer, is aiming to create at least a million jobs by setting up 10-12 manufacturing facilities across the country by 2020, its chairman said. Terry Gou, head of the maker of iPhones and iPads for Apple and Kindles for Amazon, told reporters on a short trip to India that Foxconn would look to set up the manufacturing plants, initially in five states including Andhra Pradesh, Gujarat, and Maharashtra and expand to other states across the country by 2020.
Want China Times — Taiwan-based Foxconn Technology Group, the world’s largest contract electronics maker, will assemble smartphones in India for Chinese brand Xiaomi, according to a report posted Wednesday by India’s technology website TeleAnalysis. The report cited an unnamed official from Sri city as saying that since early June, Foxconn, known in Taiwan as Hon Hai Group, has been moving production facilities from its plant in Chennai to a new base located in Sri city,
Digi Times — The Foxconn Group apparently has slowed down its investment in Vietnam as the group has continued to build up production lines in India and Indonesia in order to roll out products for emerging markets, according to industry sources. The Vietnam government has recently canceled a license it granted to Foxconn in 2008 to build a US$200 million plant for the production of handsets, PC systems and other electronics as the Taiwan-based EMS giant has so far failed to carry out the planned investment project.
Digi Times — China-based vendor Xiaomi Technology will soon its launch entry-level Hong Mi (Red Rice) 2 smartphone in the Brazil market and Taiwan-based vendor Asustek Computer will also launch its ZenFone 2 smartphone in the market in August, with the two models under production by a factory set up there by Taiwan-based EMS provider Foxconn Electronics, according to industry sources in Taiwan.
Times of India — NEW DELHI: Japanese electronics giant Sony is all set to make in India, though the products will be contract-manufactured at Taiwanese maker Foxconn’s upcoming facilities in the country. Sony looks at local sourcing for the second time after it stopped the practice in 2004 when it opted to only import.
Digi Times — Japan-based Nintendo is planning to launch its next-generation games console in 2016 and has recently asked its supply chain partners to start pilot production in October, at the latest. The console will be manufactured by Foxconn Electronics (Hon Hai Precision Industry), but Pegatron Technology is aggressively trying to snatch some of the orders, according to sources familiar to the plan.
Times of India — BENGALURU/MUMBAI: Foxconn plans to partner with the Adani Group to set up at least four electronics manufacturing facilities in India, sources told TOI. Top executives of Foxconn, the Taiwanese company best known for making Apple devices, are said to have visited Karnataka, Maharashtra, Andhra Pradesh and Gujarat earlier this month to look at possible locations for the facilities.
China Tech News — Alibaba Group announced that the company and Taiwan-based Foxconn have made strategic investments of JPY14.5 billion, which is about CNY732 million, into SoftBank Robotics Holdings Corporation. Under the agreement signed by the three parties, Alibaba and Foxconn will hold a 20% stake in SBRH, respectively; while SoftBank will own the remaining 60%.
Times Of India — NEW DELHI/CHENNAI: An old Pepsi building in Sri City in Andhra Pradesh will soon start humming with activity again. That’s where Foxconn Technology Group, the world’s largest contract manufacturer, will make phones for Chinese brand Xiaomi. Foxconn had begun work on the site across from the Tamil Nadu border two months after shutting down the third and last of its plants in that state in February. The Sri City unit won’t be too big — it will make about 10,000 phones a day — but Foxconn has ambitious plans for India that could eventually make the country a key manufacturing base for the company, comparable with China.
NEW DELHI: Japan-based telecom and Internet major SoftBank Corp and Taiwan-based Foxconn Technology Group are in talks to form a joint venture for electronics manufacturing in India, as Prime Minister Narendra Modi’s ‘Make-in-India’ push helps the country to become an attractive alternative to China as a manufacturing base. Foxconn, the world’s largest contract electronics manufacturer and maker of the iconic iPhones, will lead the new joint venture while SoftBank will support the former for the same, Masayoshi Son, Chairman & CEO of SoftBank told ET.
Foxconn Electronics will team up with Japan-based Softbank to form a joint venture for manufacturing robot products, according to Japan-based Nikkei Asian Review. Foxconn and Softbank have been cooperating on the production of robots since June 2014, and Foxconn has rolled out a bunch of ‘Pepper’ robots developed by Softbank’s subsidiary, Aldebaran, said the report.
NEW DELHI: Taiwanese electronics maker Foxconn Technology Group is scouting for the best deals in the Indian startup market — with help from two of India’s top entrepreneurs Kunal Bahl and Rohit Bansal — joining a growing list of global corporations looking for a share of the action in one of the world’s most dynamic startup hubs. Over a dozen Indian startups met Wen-Hsin (Vincent) Tong, chairman and director of investments at FIH Mobile Limited, an investment arm of Foxconn, at the New Delhi office of Snapdeal last weekend, according to two people with direct knowledge of the initiative.