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Dubai News Club > Tech > Foxconn drops out of another big factory deal, this time in India
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Foxconn drops out of another big factory deal, this time in India

Press Room
Last updated: 2023/07/10
Press Room
Published: July 10, 2023
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iPhone assembler Foxconn is dropping out of a $19.5 billion deal with a major Indian company to build a semiconductor factory in the country, according to Reuters. The canceled Foxconn deal was part of a joint venture with the large oil and metal corporation Vedanta.

Foxconn provided a vague explanation as to why it ended its plans to build a semiconductor facility in the country. “Foxconn has determined it will not move forward on the joint venture with Vedanta,” reads a company…

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