Apple Inc will assemble its top-end iPhones such as the iPhone X family -- in India at the Chennai unit of Taiwan-based Foxconn from early 2019. Currently, Wistron, another Taiwanese company, makes the lower end Apple models such as iPhone 6S and SE in Bangalore. Foxconn, which also makes phones...
Blackstone to Invest in Second Auto Components Maker in India
Having acquired Chennai-based auto parts maker Comstar Automotive Technologies Private Limited for $150 million in April this year, New York-based Blackstone Group L.P. is set to invest in Gurugram-headquartered auto components maker Sona BLW Precision Forgings Limited. Blackstone will initially invest a minority stake, and will later increase its shareholding in...
Ikea Expands Footprint in India
Swedish furniture and home furnishing retailer Ikea inaugurated its first store in India on August 9 in the southern city of Hyderabad and will soon have two more. The 400,000 square foot facility in Hyderabad has the biggest Ikea restaurant anywhere in the world, with seating for 1,000 people. In India,...
Qualcomm to Set Up Campus in India
Semiconductors and telecom major Qualcomm will invest $400 million to set up its largest facility outside its headquarters at San Diego, CA., at Hyderabad in India's southern state of Telangana. Phase-1 of the project will include a built-up space of 1.7 million square feet to house 10,000 employees. Qualcomm already...
Daimler Expands Truck Production in India
Erich Nesselhauf, managing director and CEO, Daimler India Commercial Vehicle, the Indian arm of German auto company Daimler AG, said, "Currently, we have a capacity to produce 72,000 trucks a year at our Oragadam unit in Chennnai. The company is on course to achieve the break-even by the end of 2018....
India's InCore Semiconductors Preps RISC-V, AI Cores
Chennai, India-based InCore Semiconductors laid out plans for a family of RISC-V based cores as well as deep-learning accelerators and SoC design tools. The company was founded by members of the Shakti Research team at the Indian Institute of Technology Madras, to create commercial RISC-V solutions leveraging the Shakti Open...