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Taiwanese multinational <keyword id="6380512" type="UNKNOWN" weightage="80" keywordseo="electronics">electronics</keyword> manufacturing company, <keyword id="6354671" type="COMPANY" weightage="80" keywordseo="Foxconn">Foxconn</keyword> and <keyword id="6367820" type="COMPANY" weightage="80" keywordseo="Adani-Group">Adani Group</keyword> might come together to establish at least four electronics manufacturing facilities in India, sources told TOI. 

	Earlier this month, top executives of Foxconn have visited Karnataka, Maharashtra, Andhra Pradesh and Gujarat to survey possible sites to set up manufacturing plants. 
 

	The Taiwanese company is best known for making Apple devices. 
 Sources in the Karnataka government told TOI that Vincent Tong Wen-Hsin, chairman and director of investments at FIH (Foxconn International Holdings) Mobile, and <keyword id="2920558" type="UNKNOWN" weightage="80" keywordseo="Calvin-Chih">Calvin Chih</keyword>, CEO of the company, had discussed the matter with the government. 

	"It could become a $5-billion investment. They visited some other states too. We are hoping that Karnataka's talent pool and fiscal incentives would make them decide to locate a facility here," a government official, who did not want to be named, told the daily. 
 When contacted, <keyword id="224639" type="PERSON" weightage="60" keywordseo="Pranav-Adani">Pranav Adani</keyword>, director in <keyword id="118623" type="COMPANY" weightage="80" keywordseo="Adani-Enterprises">Adani Enterprises</keyword> - the flagship company of the Adani Group - and nephew of Adani Group founder <keyword id="111343" type="PERSON" weightage="80" keywordseo="Gautam-Adani">Gautam Adani</keyword>, told TOI he had nothing to say. The Ahmedabad-based group is a multinational conglomerate with interests in commodities, logistics, agribusiness and energy. 

	In May, Foxconn group chairman Terry Gou told Reuters that the group was looking to develop 10-12 facilities in India, including factories and data centres by 2020. "A lot of our customers, especially Chinese customers, need us to manufacture ... in India, to make phones, tablets, TVs, as soon as possible," Gou had said. 
 

	A Karnataka government official said: "We are talking to Foxconn almost every week to get them to Karnataka. Under our mega projects policy, we can tailor-make incentives for them."
 

	Foxconn has already started working on a small facility in Andhra Pradesh’s Sri City that is likely to make around 10,000 phones a day, largely for Chinese brand Xiaomi. 
 In China, Foxconn makes phones for a number of global brands, including Apple, <keyword id="11148" type="CITY" weightage="80" keywordseo="Motorola">Motorola</keyword>, Huawei, <keyword id="6354356" type="COMPANY" weightage="80" keywordseo="BlackBerry">BlackBerry</keyword>, and Sony. The company is keen to manufacture in India for Indian and global brands. 
	 
	(Image: Reuters)

Foxconn, Adani coming together to produce electronics in India

<a href="http://www.businessinsider.in/searchresult.cms?query=Foxconn+International+Holdings">Foxconn International Holdings</a> (FIH) Mobile's subsidiary has bought 10% stake in Delhi-based mobile Internet Company <a href="http://www.businessinsider.in/searchresult.cms?query=MoMagic">MoMagic</a> Technologies for an undisclosed amount. This comes as the Taiwan-based company plans to expand it’s India business. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Foxconn+International+Holdings">FIH</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=MoMagic">MoMagic</a> aim to tap significant business opportunities in the world's fastest-growing mobile internet and smartphone market. 
 
Charles Pan, Special Assistant to Chairman &amp; Chief Investment Director, <a href="http://www.businessinsider.in/searchresult.cms?query=Foxconn+International+Holdings">FIH</a> Mobile Ltd., said, "Our investment in <keyword id="2942865" type="UNKNOWN" weightage="80" keywordseo="MoMagic">MoMagic</keyword> Technologies is in line with our Group's goal of strengthening FIH's ability to tap the huge potential of the country's emerging mobile Internet and fast-growing smartphone markets. MoMagic has been successful in building a strong customer base and deep understanding of the Indian market, and we believe that this investment will support <a href="http://www.businessinsider.in/searchresult.cms?query=Foxconn+International+Holdings">FIH</a> in building on our core competencies in innovative mobile technology solutions to better serve customers and consumers in this strategic market." 
 
 
The investment also underscores <a href="http://www.businessinsider.in/searchresult.cms?query=Foxconn+International+Holdings">FIH's</a> commitment to actively collaborate with technology companies in India to create a positive industry ecosystem for innovation and business opportunities, the companies said in a joint statement Monday.

Foxconn
buys 10% stake in MoMagic

Qualcomm CEO Steve Mollenkopf: What the 'big innovation house' that powered the mobile boom is betting on next

Charles Platiau/ReutersMark Zuckerberg.<ul class="summary-list"><li>Facebook wanted to launch its own smartphone to rival Apple and Google, the details of which were reported in Steven Levy's new book, "Facebook: The Inside Story."</li><li>The project, which never came to fruition, was so secretive that Facebook even denied the project to fellow employees, says the book.</li><li>Levy quotes early Facebook employee Ezra Callahan saying it was "the first time I recall Facebook lying internally."</li><li>Facebook never made its own phone, but a few years after the project it collaborated with HTC to launch the HTC First phone, which was customized to include Facebook in the phone's software but was ultimately a flop.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Facebook's effort to launch a co-branded smartphone <a href="https://www.businessinsider.com/htc-first-and-facebook-home-review-2013-4">with HTC back in 2013</a> ultimately flopped, but its original vision was something much larger: a Facebook phone built entirely by the company from scratch.The project was so secretive that Facebook didn't even tell many of its own employees about the endeavor, according to Steven Levy's new book, "<a href="https://www.amazon.com/dp/B07V8CL7RH/ref=dp-kindle-redirect?_encoding=UTF8&amp;btkr=1">Facebook: The Inside Story," </a>which documents the social media giant's early years. In the book, Levy details how Facebook's plan to launch its own smartphone came to be, including the people within the company that were tasked with spearheading the project. The phone was nicknamed GFK for the Wu-Tang Clan member Ghost Face Killah, according to the book - a detail that <a href="https://www.theverge.com/facebook/2020/2/27/21154578/facebook-phone-gfk-yves-behar-steven-levy-inside-story-highlights">The Verge's Casey Newton</a> first pointed out. Leading the project was Chamath Palihapitiya, a prominent venture capitalist who worked at Facebook for four years from 2007 through 2011. To keep the project low-profile, Palihapitiya moved his team to an unmarked building that required a badge separate than that of Facebook's. If employees asked whether or not Facebook was working on a phone, the company would deny it to them, says Levy's book."It was the first time I recall Facebook lying internally," Ezra Callahan, <a href="https://www.businessinsider.com/first-20-facebook-employees-where-are-they-working-now-2017">one of Facebook's first 20 employees</a>, said to Levy.The phone itself, which never made it to market, was designed by high-profile designer Yves Béhar and included a special groove where the user could place his or her thumb while scrolling. Facebook had planned to work with Intel for the phone's processor, and a prototype was even built by Foxconn, the iPhone assembler. As far as we know, photos of that prototype have never emerged.Facebook had hoped to challenge Apple and Google's dominance of the smartphone market. Instead of launching its own phone, it ended up partnering with HTC to launch the HTC First in 2013, an Android smartphone that incorporated Facebook's Newsfeed into the home screen. The phone was ultimately deemed a flop; roughly a month after its release, AT&amp;T slashed the <a href="https://www.businessinsider.com/htcs-facebook-phone-is-clearly-a-flop-2013-5">device's price to just $0.99</a>, and a sequel was never made.Although Facebook's plans to become a third contender in the smartphone ecosystem race between Android and iOS, there's no doubt it conquered the mobile world in its own way. Facebook holds three of the top 10 free apps in Apple's App Store, and two on Google's Play Store, according to data form App Annie, thanks to the success of its own app and its acquisitions of Instagram and WhatsApp. <h3>NOW WATCH: <a href="https://www.businessinsider.com/samsung-unveils-new-galaxy-s20-phone-2020-2">Watch Samsung unveil the Samsung Galaxy S20</a></h3>

One of Facebook's first 20 employees says the company lied to its own employees about whether it was developing a 'Facebook phone'

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Facebook</div></div></div>TAOYUAN, Taiwan (Reuters) - Taiwanese smartphone maker <keyword id="16129" type="CITY" weightage="60" keywordseo="HTC">HTC</keyword> Corp has halted at least one of its four main manufacturing lines, accounting for at least a fifth of total capacity, and is outsourcing production as a sales slump puts pressure on its cash flow, according to sources with direct knowledge of the situation.
A Reuters reporter who visited an HTC factory at the company's former headquarters in Taoyuan, about an hour's drive from Taipei, saw loading docks shuttered and a sign on a locked lobby door that read: "Lobby is temporarily closed for use. Thank you for your cooperation."
HTC launched its latest version of the flagship One series handsets this year but has struggled to gain traction in a market dominated by larger rivals Apple Inc and Samsung Electronics Co Ltd.
The company, whose woes have been exacerbated by supply chain constraints and internal turmoil, reported its first ever quarterly loss this month and its cash flow from operations dropped to a negative $707.27 million as of the end of June.
Despite lackluster sales, HTC devices usually receive rave reviews, and it has in recent months expanded its range to include smaller and larger models of the One phone and hinted at further products, including a tablet and a wearable device.
HTC initially denied it was shutting down any production, in Taiwan or elsewhere, and declined to comment on whether it was in discussions to outsource production.
"HTC in not shutting down nor has plans to sell any of its factory assets," the company said in an emailed response to queries from Reuters. "HTC has a very strong balance sheet and will provide the latest financials in our upcoming earnings call to investors and the broader community."
When asked about what Reuters had seen at the factory in a telephone interview, HTC Chief Marketing Officer Ben Ho declined to give details, but said: "Like any manufacturer, we do volume planning to optimize our lines, our manufacturing and production facilities.
"Whether we are operating those facilities depends on market demand and our own expectations. When you have less demand you work with less facilities to optimize your costs. When you have demand, or bigger growth, you definitely have to activate all these facilities."
Two of the four sources who spoke to Reuters said HTC had combined production from two lines at Taoyuan into one, which would reduce its potential capacity by about 1 million phones per month, out of a total capacity of around 2.5 million at the site and around 4.5 million including operations elsewhere.
Manufacturing has been halted since at least August on the line, housed in a facility called Building H, while production continued at a nearby plant known as TY5.
Most of the assembly lines in HTC's Shanghai factory, which can produce 2 million phones a month, were also out of production, one of the sources said, with only a small number of phones being produced for sale inside China.
HTC was considering selling the out-of-use production lines in China and Taiwan, two of the sources said.
"HTC's cash flow is not doing well. It has to do something soon to generate cash," said one of the sources with direct knowledge of the manufacturing sale plan.
<h3>PREMIUM BRAND</h3>
HTC Chief Executive Peter Chou, the driving force behind its award-winning handsets, has temporarily handed some of his duties to the company's chairwoman in order to focus on innovation and product development, the Financial Times reported on Monday.
Shares of HTC jumped following the report, on hopes that the change of duties among the top management will help it recapture the sparkle that saw it named Device Manufacturer of the Year at the World Mobile Congress in 2011, when its stock was flying high. The company's market value has roughly halved this year.
HTC, which positions itself as a premium brand, will contract out some manufacturing to FIH Mobile Ltd International, a subsidiary of Taiwan's Hon Hai Precision Industry, because contract manufacturers have better component supply management and cost control. It is also in talks with Compal Communications and Wistron Corp, according to four sources.
FIH and Hon Hai declined to comment. Spokesmen for Compal Communications and Wistron could not be reached for comment. HTC also declined to comment.
One of the sources said HTC's top management had agreed to separate the design and manufacturing businesses, which would more closely resemble Apple Inc's model of creating products in-house but then outsourcing to assemblers such as Hon Hai. Samsung Electronics Co Ltd both designs and manufacturers its smartphones.
However, sources said even if HTC splits the two operations, it would likely hold onto some of its factory capacity initially as the split-up would be a slow process and HTC might explore the possibility of making phones for others.
In a Town Hall meeting with staff on Tuesday, CEO Chou said HTC aimed to double its shares of the high-end smartphone market to 15 percent next year.
When asked about separating out the manufacturing business, he said the company did not rule out the possibility. The comments were reported by local media and confirmed by Ho.
At the end of June, HTC's cash position decreased to T$48.1 billion from T$55.5 billion a year earlier as cash flow turned negative. Its balance sheet also shows that bill payments increased while less money came in from customers. Receivables increased by T$7.9 billion, but accounts payable dropped T$7.8 billion.
HTC's return on assets (ROA) - an indicator of how effectively a company uses its assets to generate earnings - is expected to turn negative this year at -0.69 percent, the first time since 1999, according to SmartEstimates. ROA last year was 8.1 percent.
No potential bidders for the manufacturing space have surfaced so far, in part because the global smartphone and tablet PC supply chain is facing overcapacity, the sources said. As a result, HTC is also exploring other options to generate income by using its factories, sources said.
Several analyst and media reports said HTC was in talks with Chinese peer Lenovo Group Ltd and U.S. online retailer Amazon.com Inc. There is also speculation that Hon Hai will use HTC's plant for its own production.
Hon Hai said there was no plan to use HTC's production lines in Taoyuan now. Lenovo declined to comment and Amazon could not be reached for comment. ($1 = 29.4090 Taiwan dollars)
(Additional reporting by Umesh Desai in HONG KONG, Jeremy Wagstaff in SINGAPORE and Patturaja Murugaboopathy in BANGALORE; Editing by Emily Kaiser and Alex Richardson)

You Searched For "FIH Foxconn International Holdings Mobile" and got 6 results

Foxconn, Adani coming together to produce electronics in India

BI India Bureau

Foxconn buys 10% stake in MoMagic

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One of Facebook's first 20 employees says the company lied to its own employees about whether it was developing a 'Facebook phone'

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HTC Scales Back Smartphone Production Lines As Cash Flow Worsens

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