TAIPEI (Taiwan) – Taiwan’s Foxconn said on Tuesday it is planning further investment in India. The firm is likely to announce details in the next few months, said the chairman.
Foxconn manufactures smartphones in India for Apple Inc and Xiaomi Corp, though in March it said it suspended production due to the novel coronavirus outbreak.
Chairman Liu Young-way said 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.
Foxconn is best known for assembling Apple’s iPhones, many at its factories in China.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field
