Operating in China, the starting point of the epidemic, Foxconn had a very difficult process during this period. For this reason, Foxconn aims to increase its investments in India.
Foxconn to increase operations in India
Foxconn, one of the most important manufacturers of iPhone models, had to temporarily stop its activities due to coronavirus. Foxconn, who wants to expand its activities in the Asian market, will follow an expansion policy in this area.
Foxconn had the lowest profit of the last 20 years in the first quarter of 2020 due to the outbreak. Foxconn chief Youngway said they could explain and report on the new steps they would take in a few months. He also stated that their aim is to invest more in India. Foxconn will expand its field of activity and try to close possible problems in one region by focusing on the work in the other region.
Foxconn, who is now in the process of normalization, raised his goals after the first quarter of a very bad time. Foxconn aims to achieve double-digit growth at the end of the second quarter compared to the first quarter. The Taiwan-based company wants to expand its area of activity and be prepared for a possible second wave with its investments.