Apple contractor Foxconn to invest $500 mln in Telengana; EU clears Microsoft’s $68.7 bln Activision deal
Foxconn, a key Apple contractor, is set to invest $500 million in setting up manufacturing plants in Telangana. This move demonstrates Foxconn's intent to expand its presence in India as Apple pushes its biggest partners to step up efforts to help it reduce dependence on China. The EU has okayed Microsoft’s acquisition of Activision Blizzard, making it a direct competitor to Sony and Nintendo. Also in this brief, WhatsApp has added a security feature to protect “intimate” conversations, and Amazon is laying off employees across various functions in India, Economic Times reports. Notes: Amazon is laying off employees across various functions in India, Economic Times reports. The move comes as the e-commerce giant evaluates and reshapes its operations in the country. While the exact number of affected employees remains undisclosed, at least 500 people may have been fired, according to ET. WhatsApp has unveiled a new feature called Chat Lock, aimed at bolstering privacy for users' intimate conversations. With concerns surrounding data security on the rise, the feature provides an additional layer of authentication to safeguard personal information. By activating Chat Lock, users can lock specific chats behind fingerprint or facial recognition. This serves as an effective barrier against unauthorized access, particularly if someone gains physical access to a user's device. Microsoft's acquisition of Activision Blizzard has received approval from the European Commission, marking a significant milestone in the tech giant's expansion into the gaming industry, The Verge reports. The deal, which was announced earlier this year, was subject to regulatory scrutiny to ensure it did not violate competition laws. The European Commission's decision follows a similar green light from the US Securities and Exchange Commission. According to a report by The Verge yesterday, the European Commission has given its consent for the acquisition, stating that it "would raise no competition concerns in the European Economic Area." This approval paves the way for Microsoft to finalize its $68.7 billion purchase of the renowned game publisher and developer. Foxconn, a key Apple contract manufacturer, is set to invest $500 million in setting up manufacturing plants in Telangana, a southern state in India. This move demonstrates Foxconn's intent to expand its presence in India as Apple and its biggest partners step up efforts to reduce dependence on China. The investment is expected to create 25,000 direct jobs in the initial phase, as stated by K.T. Rama Rao, Telangana's IT minister in a tweet yesterday. Foxconn has been manufacturing iPhones in India and recently won a bid to manufacture AirPods in the country. It also purchased land worth $37 million in Bengaluru earlier this month, according to TechCrunch. The Indian government's financial incentives to promote local manufacturing, initiated by Prime Minister Narendra Modi, have attracted commitments from various companies, including Foxconn, Wistron, and Pegatron. JP Morgan analysts predict that by 2025, India could account for 25 percent of all iPhones manufactured by Apple.