Taiwan-based contract electronics manufacturer Foxconn is in talks with Adani Enterprises to form a joint venture (JV), likely to make the iconic Apple iPhones in India. In a notification with the Bombay Stock Exchange, the power-to-ports conglomerate said: "We are at the discussion stage only and have not signed any agreement which requires disclosure under Clause 36 of the Listing Agreement." However, the company did not disclose what the nature of the JV is and what phones it will manufacture in India. Earlier in July, it was reported that Foxconn would be manufacturing Xiaomi phones in Andhra Pradesh. This plant will apparently be a small scale unit with a capacity to manufacture about 10,000 phones a day. Apparently, Foxconn plans to set up 10-12 manufacturing units in India, and invest about $2 billion over the next five years. Xiaomi had revealed plans of manufacturing its phones in India as it was struggling to meet the demand for its Mi handsets in the country. At the time, Xiaomi’s VP of International operations Hugo Barra had told Bloomberg that production in India would likely begin in a year or two. Foxconn is also reportedly also in talks with Japanese telecom and Internet giant Softbank to form joint venture for telecom equipment manufacturing. Other companies setting up manufacturing units in India – Smartphone maker OPPO is planning to set up a handset manufacturing unit in India by August this year, to primarily tend to the domestic market. The company mentions that some of its devices manufactured here will also be exported to…
