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Foxconn eyes further investment in India, outlook favourable
- Wednesday | 24th June, 2020
TAIPEI (Reuters) – 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. We’ll have further investment there,” Liu said, without detailing plans or reasons for the firm’s view on the business outlook in India. He said there were no infections at its China plants so it was able to resume operations earlier than it expected. Foxconn is seeking to make up virus-related losses at its China plants with “resources” from customers and local governments.
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