Apple supplier Foxconn eyes further investment in India, sees bright outlook there
- Foxconn chairman Liu Young-way expects to reveal the Taiwanese firm’s proposed new investments in India ‘in a few months’ time’
- The company, which makes most of the world’s iPhones, expects to post a double-digit percentage growth in revenue in the June quarter, compared with the March quarter
Foxconn Technology Group is planning further investment in India and may release details in the next few months, as the world’s largest electronics contract manufacturer views the outlook there very favourably, the company’s chairman said on Tuesday.
Foxconn chairman Liu Young-way told the company’s annual general meeting that India was a bright spot for development even though there was a “certain impact” at present owing to the Covid-19 crisis.
“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,” Liu said. “We’ll have further investment there,” he added, without detailing plans or reasons for the firm’s view on the business outlook in India.
