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AMD to invest $400 million in India by 2028: Here’s what we know

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi’s home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra. Despite being a late entrant, the Modi government has been courting investments into India’s nascent chip sector to establish its credentials as a chipmaking hub. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. “Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide,” Papermaster said. The new 500,000-square-foot (55,5...
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iPhone supplier Foxconn aims to retain workers, offers $718 subsidy: Check details

Apple iPhone maker Foxconn is offering a $718 subsidy to employees with an aim to retain workers at its main China factory that was affected by Covid-related protests. Foxconn will provide a subsidy to workers who continue in essential roles at the Zhengzhou iPhone factory from January 1 to March 20, reports AppleInsider.

Workers will need to be a valid employee as of that date to receive the subsidy. Moreover, the factory is extending the ‘show up’ bonus payments for workers. They can now receive a 6,000 yuan ($862) bonus if they work more than 23 days in January next year.

Last month, workers at Foxconn’s largest factory in China clashed with security forces and company officials amid protests over late bonus payments for work during Covid lockdowns. Hundreds of workers were seen in social media videos, marching down a road, throwing sticks and bricks at anti-riot police.

It was reported that Foxconn was offering $1,400 to each new worker at its factory in the central Chinese city of Zhengzhou to leave the facility, in a desperate move to end protests.

Amid supply chain disruptions at its key China iPhone plant, Foxconn is reportedly investing another $500 million in India. TechCrunch first reported, quoting a company stock exchange filing in Taiwan, that Foxconn’s Singapore subsidiary is $500 million in Hon Hai Technology India Mega Development Pvt Ltd.

Apple supplier Foxconn invests $ 500mn in India

The move comes as Apple is fast-forwarding its manufacturing plans for both iPhones and iPads in India and Vietnam in the wake of China unrest over the zero-Covid policy which has severely disrupted its supply chain, leading to an acute shortage of new iPhone 14 Pro models.

The China upheaval, which hit its key supplier Foxconn’s Zhengzhou factory last month resulting in violent protests, means “Apple no longer feels comfortable having so much of its business tied up in one place”, according to earlier reports.

Apple aims to ship 40-45 percent of iPhones from India compared with a single-digit percentage currently, according to famed analyst Ming-chi Kuo.

 

With inputs from IANS

The post iPhone supplier Foxconn aims to retain workers, offers $718 subsidy: Check details appeared first on BGR India.



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