Apple Supplier Foxconn's Efforts To Make iPhones In India Thwarted By Tech And Talent Exports: Report

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Apple Supplier Foxconn's Efforts To Make iPhones In India Thwarted By Tech And Talent Exports: Report - Benzinga

Quick Summary:

Apple Inc.'s (NASDAQ:AAPL) key supplier Foxconn, also known as Hon Hai Precision Industry Co., Ltd (OTC:HNHAF) is reportedly facing obstacles in expanding its operations in India as China tightens restrictions on technology and talent exports.

Last month, Foxconn reported that its fourth-quarter earnings increased by 15.17% compared to the previous year and by 15.03% from the previous quarter, reaching a record NT$2,132.3 billion, or approximately $64.83 billion.

What Happened: Chinese authorities have made it more difficult for engineers and key manufacturing equipment to leave the country, reported the Financial Times, citing industry sources and ministry notices.