Today, phone manufacturing company Foxconn said that it is looking to expand its presence in India and invest more. The firm’s chairman said that it “views the outlook there very favourably” in the country, and may announce new investments in the coming months.
The contract manufacturer currently produces phones for Xiaomi and select models for Apple in India.
Speaking at Foxconn‘s annual general meeting, Chairman Liu Young-way said that even though the coronavirus pandemic has impacted operations in India, the country is “a bright spot” in the company prospectus. He said that the firm may reveal its plans in the coming months:
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.
Earlier this year, a minister in the Indian state of Maharashtra claimed that Foxconn had backed out of a $5 billion deal that to build manufacturing units in the state. While the contract manufacturer denied this, it didn’t specify if it was going to continue the project and construct factories in Maharashtra.
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