iPhone maker Foxconn buys 300-acre land in Bengaluru for ₹300 cr

Taiwanese tech giant Foxconn has bought a 300-acre land for approximately ₹300 crore ($37 million) in Karnataka's Bengaluru, London Stock Exchange filings showed. The purchase was done on behalf of its subsidiary Foxconn Hon Hai Technology India Mega Development, AFP reported. The move comes as the company, Apple iPhone parts' biggest supplier, looks to diversify production away from China.