The government of Karnataka said that Foxconn will beginning making iPhones in the state in 2024. Xiaomi will expand local sourcing for its smartphones and wearable devices to regain its leadership in India.
Foxconn to make iPhones in Karnataka by April 2024
The Economic Times reported that Foxconn will make iPhones in Karnataka by April 2024, and the plant at Devanahalli is expected to have an annual capacity of 20 million iPhones.
Xiaomi expands local sourcing in India
According to Dixon's statement to the Bombay stock exchange, the EMS provider proposed to make and export Xiaomi's smartphones in India. Meanwhile, Reuters also reported that Xiaomi announced it would source its upcoming Bluetooth audio products to India-based contract manufacturer Optiemus.
India reopens application window for chipmaking incentive scheme
According to a statement by the Ministry of Electronics & IT of India via the Press Information Bureau, India decided to reopen the application window for the Semicon India Program starting from June 1 after the previous efforts failed to attract global chipmaking giants such as TSMC, Intel, and GlobalFoundires, to set up wafer fabs in India.
India invites application for renewed PC manufacturing incentive scheme
According to a statement by the Ministry of Electronics & IT of India on the Press Information Bureau, India opened the application window for the PLI scheme for IT Hardware 2.0 on June 1 as few PC and notebook manufacturers were lukewarm about the previous version.
India-based smartwatch brand reportedly to raise fund for expansion
The Economic Times quoted sources saying that Noise was talking with potential investors to raise US$40–50 million in funds as India's smartwatch and the wearable market is in a high growth stage.
Log9 Materials and Quantum Energy to launch India's fastest charging electric two-wheeler
Financial Express reported that Log9 Materials signed an MoU with Quantum Energy to collaborate on India's fastest-charging commercial E2Ws (electric two-wheelers) powered by Log9's RapidX 200 batteries.
