Foxconn subsidiary acquires shares in India unit for $37.2 million
Hon Hai Precision Industry Co on Thursday said its subsidiary Foxconn Singapore Pte Ltd. acquired approximately 351.73 million common shares in its India subsidiary Foxconn Hon Hai Technology India Mega Development Private Limited, amounting to $37.2 million, according to a stock exchange filing.
Foxconn has been ramping up its presence in India significantly driven by demand from Apple but also its own ‘3+3+3 strategy’ which looks to integrate three emerging industries, three core technologies, and three smart platforms to ensure long-term, sustainable growth for the Taiwanese contract manufacturer.
