Page 7 - Iphone Maker News Today

Foxconn has submitted its application under the "modified scheme for setting up of semiconductor fabs in India" for the establishment of semiconductor fab in the country

Taiwans Hon Hai Precision Industry plans to expand in India with $1.6bn investment.

International Business News: Foxconn plans to expand its footprint in India with another $1.6 billion investment for construction projects. The announcement, made in an exchange f

The announcement, made in an exchange filing in Taiwan late Monday, didnt give any further details, saying only that the investment was for “operational needs.” A spokesperson for the company declined to say where the new facilities would be or what they would build.

India’s Karnataka state government in August announced that Foxconn planned to invest $600 million on two component factories in the southern Indian state. That included a plant that will make mechanical enclosures for iPhones and a semiconductor equipment manufacturing plant it will operate with Applied Materials Inc, the government said at the time.

EU Tax Order: The European Unions General Court in 2020 upheld Apples challenge, saying that regulators had not met the legal standard to show Apple had enjoyed an unfair advantage.

An EU Court of Justice adviser has ruled that a lower tribunal that sided with Apple in its challenge against a $14 billion EU tax order made a series of legal errors and should review the case again. The case was part of EU antitrust chief Margrethe Vestagers crackdown on deals between multinationals and EU countries deemed unfair state aid.

Hon Hai Precision Industry Co.’s October sales slid, reflecting uncertainty in its business after Beijing launched an investigation into the world’s biggest iPhone assembler.

The probe comes weeks after founder Terry Gou announced his bid for Taiwan’s presidency and stressed that he won’t be pressured by Beijing, despite his extensive business operations in the country.

Mainland Chinese experts have stated that the investigation is a normal part of business operations and all companies undergo tax inspections