iPhone supplier Foxconn will build a factory in India, moving away from China: Report

Foxconn, one of Apple’s largest suppliers and a major manufacturer of iPhone components, will invest around $700 million to build a new plant in India’s Karnataka state, Bloomberg reported Friday. The report comes as U.S. companies continue to reevaluate their reliance on China in the wake of mounting tension between the U.S. and the Chinese government.

Bloomberg, citing people familiar with the matter, said…