Foxconn India invests ₹267cr to start iPhone 16 Pro production
Taiwanese electronics giant Foxconn has invested $31.8 million (approximately ₹267 crore) to prepare its Indian factory for the production of Apple's iPhone 16 Pro series. The manufacturing will be done at Foxconn's Tamil Nadu facility, marking a major shift in Apple's production strategy. This will be the first time that Apple's premium iPhone Pro series will be manufactured outside China.
Foxconn's regulatory filing confirms equipment procurement
In a regulatory filing, Foxconn confirmed acquiring machinery equipment worth $31.8 million from Apple Operations Limited. The investment will be used to boost the capacity of Foxconn's Tamil Nadu unit for the production of iPhone 16 Pro series smartphones. This comes just days after Apple announced its plans to launch its first-ever "made in India" iPhone 16 Pro and iPhone 16 Pro Max series soon.
Apple's new pricing strategy for iPhone 16 Pro series
The iPhone 16 Pro series made its debut in India on September 20, with an interesting pricing strategy. For the first time, Apple has priced its iPhone Pro series lower than its predecessor, mainly due to a cut in import duty announced in the recent budget. The starting prices of the iPhone 16 Pro and iPhone 16 Pro Max are ₹1,19,900 and ₹1,44,900, respectively. The iPhone 16 Pro and Pro Max come in 128GB, 256GB, 512GB, and 1TB storage options.