iPhone maker Foxconn eyes further India investment, sees bright outlook
Taiwan's Foxconn is planning
further investment in India and may announce details in the next few months as
the world's largest contract manufacturer views the outlook there very
favourably, its chairman said on Tuesday.
Foxconn already makes
smartphones in India for Apple Inc and Xiaomi Corp, though
in March said it suspended production due to the novel coronavirus outbreak.
Chairman Liu Young-way told Foxconn's annual general meeting that looking
ahead, India was a bright spot for development even though there was a
"certain impact" at present due to the virus.
"We
are fully pushing ahead with next steps there, and maybe in a few months' time
we can reveal on our website the next steps and report back to everyone. We'll
have further investment there," Liu said, without detailing plans or
reasons for the firm's view on the business outlook in India.
Foxconn's
January-March profit plunged to its lowest in two decades after the outbreak
forced the firm to suspend manufacturing in China and knocked
demand from customers including Apple.
But
the firm, formally Hon Hai Precision Industry Co Ltd, last month said the worst
of the outbreak for it was over.
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