Investing.com -- Apple (NASDAQ: AAPL ) supplier Foxconn (SS: 601138 ), listed as 2317, has announced plans to invest 1.5 billion rupees in its India unit.

The move comes as Apple continues to shift more of its manufacturing out of China, where it has been hit with tariffs.

According to a filing with the London Stock Exchange (LON: LSEG ), Foxconn’s Singapore-based subsidiary is set to buy 12.77 billion shares in Yuzhan Technology India.

Each share is priced at 10 rupees, resulting in a total investment amount of 127.74 billion rupees, equivalent to $1.50 billion.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.