Nokia Chennai manufacturing plant in India is one of the most wanted manufacturing plant in the country. It was supposed to be among the Devices & services section of Nokia sold to Microsoft for $7.2 billion. Unfortunately, due to tax issues, it wasn't in the deal leaving 5,000 workers unemployed.
The plant has since been generating interest from different companies; HTC was among the first before India's Lava the OEM (Original Equipments Maker) of Xolo smartphones also made moves to buy the plant.
Information reaching us is that the OEM responsible for producing iPhones and iPad, want's to buy the manufacturing plant.
According to a top official said the Indian government will be strategical to the sale of the factory said, "The current dispute, as it stands is lose-lose for both parties. Nokia can't sell, but if the plant and machinery goes to waste, the tax department will not be able to generate anything from it."
"What makes the Foxconn's investment plans even stronger is that one of it's chief Indian client, Micromax, is believed to have expressed it's intention of sourcing as much as 25% of production if Foxconn were to take over the plant," the source said.
Foxconn is interested in investing about $2 billion in India of which part of it goes to the plant while Lava are also interested. It's just a matter of time before we see the destination of the plant.
Information reaching us is that the OEM responsible for producing iPhones and iPad, want's to buy the manufacturing plant.
According to a top official said the Indian government will be strategical to the sale of the factory said, "The current dispute, as it stands is lose-lose for both parties. Nokia can't sell, but if the plant and machinery goes to waste, the tax department will not be able to generate anything from it."
"What makes the Foxconn's investment plans even stronger is that one of it's chief Indian client, Micromax, is believed to have expressed it's intention of sourcing as much as 25% of production if Foxconn were to take over the plant," the source said.
Foxconn is interested in investing about $2 billion in India of which part of it goes to the plant while Lava are also interested. It's just a matter of time before we see the destination of the plant.
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