TAIPEI - 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.
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. 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.
Liu described the first-quarter results as a"special case" that reflected the effect of the virus. He said there were no infections at its China plants so it was able to resume operations earlier than it expected.
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