Apple Supplier to Buy Nokia’s Chennai Plant, Will Invest $279 Million

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India’s information technology minister Ravi Shankar Prasad said on Monday Apple would expand its operations in the country and the iPhone maker’s supplier Salcomp would make components at a plant near Chennai in southern India.

Salcomp will invest Rs. 2,000 crores over the next five years to make chargers and other components at the plant and the move will also create 10,000 jobs, Prasad said.

Apple’s phones made in India will also be exported, he said, adding that exports of mobile phones and components from the country would be worth $1.6 billion (roughly Rs. 11,500 crores) each this year.

© Thomson Reuters 2019

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