iPhone Manufacturer Foxconn Increases Its Investment in India
Foxconn, which is responsible for the production of iPhone models, says it will further increase its investment volume in India and is focused on the positive trend there.
Foxconn, which is responsible for the production of iPhone models, says it will further increase its investment volume in India and is focused on the positive trend there.
Responsible for the production of iPhone models Foxconnstated that it will further increase its investment volume in India and will announce financial reports regarding the positive trend there in a few months. Speaking at the annual general meeting of the Taiwan-based company, Foxconn President Liu Youngway said: from the coronavirus epidemic He said that even though there are negativities arising from it, India is a bright region for development.
Youngway, "We are moving forward to take the next step here. Maybe in a few months we can announce what these steps will be and report back to everyone. Our goal is to invest more in India." he said. Foxconn already Apple And Xiaomi However, the company had to lock its factories in March due to the coronavirus outbreak.
Foxconn's first-quarter profits fell to the lowest level in the last two decades due to the effects of the coronavirus outbreak
The Taiwanese company's profit in the first quarter, covering January-March, was both Chinese And IndiaIt fell to its lowest level in the last twenty years as a result of the suspension of production in Turkey and the decrease in demand for smartphones.
Describing the first quarter results as a "special situation" reflecting the effects of the pandemic, Foxconn President Youngway stated that there is no risk of disease in their facilities in China and therefore they can resume production earlier than expected. The company is trying to compensate for the losses caused by the epidemic by providing resources from Chinese investors and local governments.
Foxconn expects second-quarter revenue to show double-digit growth over the first quarter
Foxconn said it expects its revenue in the second quarter of the year to show double-digit growth compared to the first quarter, but will still experience a single-digit decline compared to the same period a year ago. In the medium and long term, a second wave of the epidemic Stating that it poses a significant risk for the industry, the Taiwanese company hopes that this negative situation will be reversed as soon as possible.
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