Terry Gou, chairman of Foxconn Technology Group said that his company will mass produce iPhones in India this year. “In the future we will play a very important role in India’s smartphone industry,” he said at an event in Taiwan. “We have moved our production lines there.”
India is now the fastest-growing smartphone market in the world, surpassing China where sales are stagnating and the market for iPhones is saturated. Taiwan‘s Foxconn, the biggest maker of iPhones, will initially invest close to $300 million to set up the infrastructure for Apple with investments to ramp up as capacity expands.
Indians bought more than 140 million smartphones last year, with just 1.7 million sold by Apple, as consumers favored less expensive models from China. On Xiaomi’s Indian website, the Redmi Note 7 costs $143, which is approximately one-tenth the price of Apple’s iPhone Xs in the country.
Last updated: December 26th, 2025
