Foxconn cancels $19.5 billion chip production deal with Indian firm

Foxconn, Apple's iPhone manufacturing partner, has dropped out of a $19.5 billion chip production deal with Indian company Vedanta in India. Concerns about incentive approval delays by the Indian government and questions about cost estimates were cited as reasons for the deal falling apart. Despite this setback, Apple remains focused on diversifying its manufacturing outside of China and expanding its presence in India, which is seen as a key market for the company.