Mass production of iPhones to start in India, a shift from China

Foxconn Chairman Terry Gou Says Aims to Step Down to Pave Way for Younger Talent

Foxconn Chairman Terry Gou Says Aims to Step Down to Pave Way for Younger Talent

Foxconn, a Taiwanese electronics manufacturer that now builds Apple iPhones, Amazon Kindles and Echo Dots at their factories in China will manufacture LCD screens at the Wisconsin facility. The facility is expected to create 13,000 jobs.

The firm said its billionaire founder would not be relinquishing his role as chairman, rebutting earlier media reports.

Foxconn boss Terry Gou hinted Monday he would soon step back from frontline operations while remaining at the helm of the major Apple supplier.

He is reportedly the company's largest shareholder, according to Forbes.

Oil rig workers rescue dog 137 miles off coast of Thailand
A dog that was castaway in the ocean has been brought to safety after a miraculous rescue by Thai oil workers. Payalaw said that he plans to adopt Boonrod if no one claims ownership of her, the Bangkok Post reported .

There are two assembly sites of Foxconn in Andhra Pradesh and Tamil Nadu, where it also manufactures Xiaomi and Nokia devices.

Sources told the wire agency that Foxconn's Indian assembly line, Hon Hai Precision Industry Co, would serve local and export markets before Apple's new iPhone models in September. The Taiwanese contract manufacturer, the biggest maker of iPhones, will initially invest about $300 million to set up for Apple with investments to ramp up as capacity expands, they said.

Gou said that his company is talking with the government about investment terms.

Gou also said he plans to write a book to pass on the lessons of his 45 years of management experience. Due to Chinese competitors like Xiaomi offering advanced features at lower prices, Apple is losing its market share in the country.

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