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Business Standard
7 hours ago
- Business
- Business Standard
Foxconn eyes iPhone enclosure manufacturing in Tamil Nadu
Taiwanese company Foxconn is planning to start manufacturing iPhone enclosures — the external metal or glass frames of iPhones — in Oragadam, Tamil Nadu, at a new unit within the ESR Industrial Park, The Economic Times reported. So far, only Tata Electronics has been making these enclosures in India. Until now, Foxconn has focused on iPhone assemblies in India, harnessing its Sriperumbudur facility. The proposed enclosures facility will be located separately but nearby Foxconn's display module assembly plant, which is already nearing completion within the same industrial park. Apple looking to broaden local supply base Industry experts believe Foxconn's move signals Apple's intent to diversify its suppliers in India, similar to its strategy in China. Neil Shah, vice-president, Counterpoint Research, was quoted as saying by The Economic Times that it was natural for Foxconn to diversify the production in India. This aligns well with Apple's broader strategy to derisk and diversify its supply chain, he emphasised. Producing capital equipment in India Apple is also in talks with Indian companies to make capital equipment and machinery needed for iPhone production. These machines would be supplied to iPhone vendors in India as they expand and launch new models. This step is important because imports of crucial equipment, mainly from China, are currently delayed at ports. By building machines locally, Apple aims to cut business risks. There is strong demand for such equipment, especially with two new factories, one each by Foxconn and Tata Electronics, preparing to begin iPhone manufacturing. Foxconn ships 97 per cent of iPhones from India to US From March to May, nearly 97 per cent of iPhones exported by Foxconn from India went to the United States, based on customs data reviewed by Reuters. These shipments were worth $3.2 billion, a large rise from the 50 per cent monthly average seen through 2024. This change shows Apple's effort to avoid high US tariffs on Chinese goods. Earlier, Indian-made iPhones were shipped to markets like the Netherlands, the Czech Republic, and the UK. Now, most are headed directly to the US. The shift comes as Washington plans to impose even steeper duties on Chinese imports.
Time of India
13 hours ago
- Business
- Time of India
Foxconn looks to set up new Tamil Nadu unit to make iPhone enclosures
Taiwan's Foxconn is eyeing manufacturing iPhone enclosures in India and is looking at setting up a new unit within the ESR Industrial Park at Oragadam in Tamil Nadu for this purpose, people aware of the developments told ET. This would mark the Taiwanese contract manufacturer's foray into making enclosures in India, something that only Tata Electronics has been doing so far locally. Until now, Foxconn has focused on iPhone assemblies in India, harnessing its Sriperumbudur facility. ETtech by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: 1 simple trick to get all TV channels Techno Mag Learn More Undo However, the company is rapidly expanding the scope of work through its upcoming plant in Devanahalli, near Bengaluru. In addition to iPhone assembly, Foxconn also has a new unit in Hyderabad that is assembling AirPods. "Foxconn plans to start making enclosures in Tamil Nadu as they deepen their footprint in the country," one person cited above said. "Construction has begun for their enclosures unit at the industrial park. This will be a separate unit close to their upcoming display module assembly plant which is in advanced stages in the same industrial park." Live Events ETtech Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Analysts said Foxconn's entry into this space shows that Apple is looking to diversify its suppliers in India, much like in China where it has multiple vendors for different components. "This aligns well with Apple's broader strategy to derisk and diversify its supply chain," said Prabhu Ram, vice president, industry research group, CyberMedia Research. "As India emerges as a lynchpin in Apple's growth momentum — with early signs of an end-to-end manufacturing ecosystem taking shape — it is a natural progression for Foxconn to expand its capabilities and geographic presence by manufacturing enclosures." Queries sent to Foxconn and Apple remained unanswered as of press time Thursday. Sourcing depth Neil Shah, vice president, Counterpoint Research, also said Apple globally sources enclosures from multiple players and Foxconn is one of them. Hence, it was natural for Foxconn to diversify the production in India, Shah said. "This gives Apple more leverage and also provides Foxconn with ease of integration and boosts value addition," he said. "This improves supply chain effectiveness for Foxconn as well as Apple." He added that it was difficult to quantify value addition individually but for Apple specifically, Foxconn's value addition would be under 10%. Further, he said enclosures constitute a small percentage of Apple's Bill of Materials (BoM), roughly about 2–3%. So Foxconn's foray into enclosures will not significantly add to their value addition in percentage terms. It is, however, a significant move as Apple gradually increases its manufacturing presence in India. ET was the first to report on September 25 last year that Foxconn was looking to set up an assembly unit for smartphone display modules in Tamil Nadu, making it the first such facility catering to Apple. Later, on October 8, the Tamil Nadu cabinet cleared a Rs 13,180 crore investment by Yuzhan Technology (India), which is a unit of Foxconn. Sources had said at the time that Foxconn had picked up about 500,000 square feet at a plug and play facility at the ESR Oragadam Industrial & Logistics Park, which is right next to their smartphone assembly unit near Chennai. They added that the maker of the iconic iPhone is leaning in for a model wherein even other contract manufacturers — Pegatron or Tata Electronics, for instance — can use components from this unit rather than import modules that are assembled in China. On May 19, Foxconn said it was investing an additional $1.5 billion (about Rs 12,800 crore) in this unit via a London Stock Exchange filing. All of this expansion news comes on the back of Apple CEO Tim Cook's recent statements that India will become the primary manufacturing hub for iPhones sold in the US. "For the June quarter, we do expect the majority of iPhones sold in the US will have India as their country of origin," Cook said during Apple's Q1 earnings call on May 1. Tariff tribulations US President Donald Trump, however, has not taken kindly to Apple expanding its presence in the country and even threatened to have the company pay a 25% tariff if phones sold in the US were not made in the US on May 23. This tariff threat came a week after he said he had told Apple CEO Tim Cook not to build in India. "I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a tariff of at least 25% must be paid by Apple to the US,' Trump wrote in a post on Truth Social. Foxconn plans for expansion, however, continue. The company has a huge factory coming up in Bengaluru and has a new unit in Hyderabad that is targeting AirPods — showing that the company is broadening its portfolio and venturing into other areas of production in India. ET had reported on March 30 that Foxconn is targeting producing 25-30 million iPhones out of their India facilities, which is more than double their production number from last year, as per sources.
Yahoo
30-05-2025
- Business
- Yahoo
Mosaic Expands Platform to Serve Investment Banks, Announces Strategic Partnership with Evercore
NEW YORK, May 30, 2025 /CNW/ -- Mosaic, the leader in deal model automation for private equity, today announced its official expansion into the investment banking market. In collaboration with Evercore, a premier global independent investment bank, Mosaic will extend its platform to support investment banking modeling workflows across M&A and capital markets advisory. "Partnering with Evercore, one of the leaders in global M&A advisory, marks a major milestone for us," said Ian Gutwinski, Founder & CEO of Mosaic. "We see a significant opportunity to streamline high-volume modeling at the advisory firms that power the world's deal flow. Enhancing analytical capacity and standardization through automation will increase throughput without sacrificing quality – ultimately driving better client outcomes while improving work-life balance for young finance professionals." Evercore's Financial Sponsors Group, one of the most active advisors to private equity firms globally, will lead the initial rollout. Neil Shah, Senior Managing Director and Co-Head of Evercore's Financial Sponsors Group, said "Evercore's entrepreneurial DNA drives us to continuously re-evaluate the status quo. Our team, and many of our private equity clients, have been impressed by the Mosaic platform and think it represents an opportunity to streamline financial modelling, allowing our teams to focus on creative and compelling solutions for our clients. We look forward to working with the Mosaic team in shaping the future development of the platform across the firm." Mosaic is committed to collaborating closely with Evercore to refine and expand the platform beyond private equity buyout deals analysis, accelerating innovation across valuation, M&A, and broader investment banking use cases in the months ahead. About Investor Technology Group, Inc. (doing business as Mosaic): Investor Technology Group, Inc. is revolutionizing private equity and investment banking deals analysis through its pioneering digital deal modeling platform, Mosaic. Thousands of the world's best investors and advisors at leading firms like Evercore, Warburg Pincus, CVC, New Mountain Capital, Summit Partners, Bridgepoint, Ontario Teachers' Pension Plan, The Riverside Company, and many more leverage the Mosaic platform daily to efficiently screen a world of opportunity and identify the handful of investments worth executing. By combining our founding team's deep sector expertise with cutting-edge digital technologies – and the collective intelligence of our pioneering user base – we're building the future of private equity. To be a part of that future, visit and follow us on LinkedIn. Press Contact:Manasa GrandhiDirector of Operationsmanasa@ View original content to download multimedia: SOURCE Investor Technology Group, Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
30-05-2025
- Business
- Cision Canada
Mosaic Expands Platform to Serve Investment Banks, Announces Strategic Partnership with Evercore
NEW YORK, May 30, 2025 /CNW/ -- Mosaic, the leader in deal model automation for private equity, today announced its official expansion into the investment banking market. In collaboration with Evercore, a premier global independent investment bank, Mosaic will extend its platform to support investment banking modeling workflows across M&A and capital markets advisory. "Partnering with Evercore, one of the leaders in global M&A advisory, marks a major milestone for us," said Ian Gutwinski, Founder & CEO of Mosaic. "We see a significant opportunity to streamline high-volume modeling at the advisory firms that power the world's deal flow. Enhancing analytical capacity and standardization through automation will increase throughput without sacrificing quality – ultimately driving better client outcomes while improving work-life balance for young finance professionals." Evercore's Financial Sponsors Group, one of the most active advisors to private equity firms globally, will lead the initial rollout. Neil Shah, Senior Managing Director and Co-Head of Evercore's Financial Sponsors Group, said "Evercore's entrepreneurial DNA drives us to continuously re-evaluate the status quo. Our team, and many of our private equity clients, have been impressed by the Mosaic platform and think it represents an opportunity to streamline financial modelling, allowing our teams to focus on creative and compelling solutions for our clients. We look forward to working with the Mosaic team in shaping the future development of the platform across the firm." Mosaic is committed to collaborating closely with Evercore to refine and expand the platform beyond private equity buyout deals analysis, accelerating innovation across valuation, M&A, and broader investment banking use cases in the months ahead. About Investor Technology Group, Inc. (doing business as Mosaic): Investor Technology Group, Inc. is revolutionizing private equity and investment banking deals analysis through its pioneering digital deal modeling platform, Mosaic. Thousands of the world's best investors and advisors at leading firms like Evercore, Warburg Pincus, CVC, New Mountain Capital, Summit Partners, Bridgepoint, Ontario Teachers' Pension Plan, The Riverside Company, and many more leverage the Mosaic platform daily to efficiently screen a world of opportunity and identify the handful of investments worth executing. By combining our founding team's deep sector expertise with cutting-edge digital technologies – and the collective intelligence of our pioneering user base – we're building the future of private equity. To be a part of that future, visit and follow us on LinkedIn.
Scotsman
13-05-2025
- Business
- Scotsman
Shark bladeless fan launch: £250 TurboBlade takes on Dyson
The Shark bladeless fan | Shark This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement. Shark has launched a stylish new bladeless fan – and it's going head-to-head with Dyson by offering more coverage and a lower price tag. Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Move over Dyson - a rival technology company has launched a new bladeless fan and it is cheekily £20 cheaper than its big rival. Shark, which already sells rival vacuum cleaners to Dyson's products, has launched its new Shark TurboBlade multi-directional cooling fan capable of cooling up to 20m away and covering 180 degrees. Priced at £250, the fan has ten different settings including a 'sleep mode' that allows you to run the fan overnight to keep your bedroom cool. It creates an 'air blanket', says the brand. Shark has clearly taken aim at Dyson in announcing the new product. Neil Shah, Chief Commercial Officer at SharkNinja, said:'We heard the everyday challenges consumers had with existing tower fans, such as noise and aesthetic, and knew immediately we had to deliver a better solution. 'TurboBlade delivers the next generation of cooling power and sets a new innovation standard for the fan category with endless customization options to fit all their cooling needs. We can't wait for our customers to experience this incredible fan. It's truly a beautifully designed modern product that looks incredible in the home and delivers amazing power without the noise.' It is not the first time Shark has moved into the world of fans. The Shark Flexblade desk fan is already on sale and has a misting action that helps to cool the immediate area. However, this is the first time Shark has taken aim at Dyson's popular bladeless tower fans, which are priced at £269.99. That price is a major discount on the usual price of over £350, which is significantly higher than that of the Shark option. Like the Shark, the Dyson is remote controlled and says it has 'jet engine technology' to provide power without the turbulence typically associated with bladeless fans. The Shark can cover 180 degrees while the Dyson is limited to 70 degree coverage, although higher priced Dyson options do add air purifying options and hot and cool settings to the bladeless fan. You can see the Shark fan here and the Dyson fan here. ❄️ Other bladeless fans to consider this summer If you're weighing up options beyond Shark and Dyson, there are plenty of other bladeless fans making waves. Brands like Duux are known for sleek, quiet air circulation, while Meaco fans regularly top bestseller lists for home cooling. You can also browse John Lewis or Currys to compare a wide range of bladeless fans and tower coolers across all budgets.
