The Indian Minister of Information and Communications Technology Ravi Shankar Prasad said that the Finnish company Salcomp will invest more than $ 270 million in India to manufacture smartphone chargers and other components involved in manufacturing, starting from next March.
The Finnish company has reached an agreement with the Indian government to acquire a plant owned by Nokia and will begin operations and manufacturing in March.
Salcomp is one of the largest suppliers of iPhone chargers and will now expand further on the products it makes at the factory, which has been inactive for years and is now expected to employ 10,000 workers.
Since last month, Apple started selling the iPhone XR, which was assembled in India by a local factory of the Chinese company Foxconn, and the iPhone 7 is also assembled by Wistron.
According to the Indian minister, Apple will expand its manufacturing operations to go beyond the domestic market, where it will export products from phones and other components and is estimated to reach $ 1.6 billion by the end of March.