Apple partners Wistron, Foxconn boosted by 1-4% local cashback on sales
What you need to know
- Wistron and Foxconn are two of several companies selected by India to be part of a group that will earn cashback.
- Both will receive cash-backs of between 1% and 3% sales of locally-made goods for four years.
Good news for Indian production of Apple hardware.
India has named multiple companies that will benefit from cash-backs of between 1% and 3% sales of locally-made goods, with two of Apple's manufacturing partners on the list. Both Wistron and Foxconn are joined by Dell, and others on a list that are part of a $1 billion incentive plan to have companies produce electronics in India.
Prime Minister Narendra Modi's policy push in the electronics sector has prompted Apple suppliers Foxconn and Wistron to expand in India, and driven Pegatron Corp(4938.TW) to set up base there.
India has seen itself grow into the world's second-biggest mobile market, behind China. The country's huge potential market helps, as does recent moves by companies like Apple to try and diversify the countries it relies on following last year's COVID-19 situation in China.
Wistron in particular found itself in headlines for the wrong reasons not too long ago. An iPhone manufacturing plant in the country was forced to close after a riot over unpaid wages. The facility was closed for three months, impacting global iPhone production. The same company has also been on the receiving end of trade union ire over working violations as recently as December 2020.
Of course, none of this will see Apple's iPad prices lowered so make sure to check out our collection of the best iPad deals when ordering!