NEW DELHI: Foxconn, which makes iPhones and iPads for Apple and the Kindle for Amazon, has emerged as a possible buyer for Nokia's defunct Chennai factory as the world's largest electronics contract manufacturer looks to invest around $2 billion in India. This comes within weeks of fast-growing domestic handset maker Lava being reported to be interested in acquiring the plant, once the world's biggest phone-making facility.
In a related development, the telecom and IT ministry has proposed to the revenue department that Nokia be allowed to sell the plant, currently frozen in a tax dispute, without passing on the legal liability to the buyer, people familiar with the matter told ET.
"The proceeds from the sale (of the plant) could be deposited into an escrow account, which, upon the final court ruling, can go to the winner," a senior government official told ET. "The current dispute, as it stands, is lose- ..
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