We begin with Neil’s thoughts on Foxconn announcing another $500 million investment in India to diversify its supply chain. The discussion then turns to iPhone sales and production in India and rumors of Apple looking to greatly expand production in the country. The update concludes with an examination of Twitter relaunching Twitter Blue with different pricing to reflect App Store revenue share percentages.

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With two weeks left of 2022 for many of us, we are continuing to run forward.

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Let’s jump into today’s update.

Foxconn Invests Another $500M in India

In an article published on December 9th, here’s South China Morning Post:

“Foxconn Technology Group, Apple’s biggest contractor, has invested US$500 million in its Indian subsidiary, as the Taiwanese manufacturing giant moves ahead to diversify its supply chain after China’s stringent pandemic controls disrupted production at its top iPhone plant in the central city of Zhengzhou.

The cash injection into Foxconn Hon Hai Technology India Mega Development Private Limited, made through Foxconn’s Singapore unit Foxconn Singapore Pte Ltd, involved the purchase of over 4 billion shares, according to a filing on Thursday to the Taiwan Stock Exchange…

Foxconn signed a US$300 million agreement with a Vietnamese developer in August to expand a new local plant, and plans to quadruple the workforce at its iPhone-making Indian plant over two years, according to reports by Reuters earlier this year…

Despite Foxconn’s move to diversify its manufacturing footprint, chairman Liu Young-way said in last month’s earnings call that the company planned to spend the largest portion of its increased capital spending next year in mainland China.”

Given the long list of issues at Foxconn’s Zhengzhou facilities, this article is getting a larger-than-usual reaction. Some are looking at the timing of Foxconn’s $500M Indian investment as the company sending a clear signal to Chinese officials.

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