Foxconn has taken a severe hit to its revenues, due to China’s severe COVID lockdown measure. While Foxconn had already been moving iPhone production to India and currently has approximately 17,000 workers in India. It now intends to raise that number to 70,000 by 2024.
While Foxconn currently reportedly employs approximately 200,000 workers at its Zhengzhou plant in China. However, it has struggled to keep those workers, as they have reportedly been fleeing the Chinese factory due to the conditions at the plant.
While neither Foxconn nor Apple has commented on the move to India, Reuters says its information comes from two anonymous Indian government officials.
Foxconn, formally known as Hon Hai Precision Industry Co Ltd, opened the India plant in 2019 and has been ramping up production ever since. It began producing iPhone 14 this year.