Home / Economy / News / iPhone maker Foxconn eyes further India investment, sees bright outlook

iPhone maker Foxconn eyes further India investment, sees bright outlook

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

Premium

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

Reuters Taipei

2 min read Last Updated : Jun 23 2020 | 9:48 PM IST

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

Topics : Coronavirus Xiaomi Taiwan India investment Foxconn Apple China

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in