On August 3, Foxconn announced that it will invest 600 million U.S. dollars in Karnataka, India to build iPhone shell parts and chips respectively. The production base for manufacturing equipment.
In addition, Tamil Nadu, India also announced that Foxconn will invest 194 million US dollars to build a new electronic component manufacturing facility, creating 6,000 jobs.
Foxconn announced its latest financial report for the second quarter of 2023 today. Liu Yangwei, chairman of Foxconn Group, answered questions about the plan to set up a factory in India at the conference, saying that if the plan can be fully implemented, the investment scale of billions of dollars in India will “Just the beginning”.
Liu Yangwei, chairman of Foxconn, pointed out that the second half of the year will enter the traditional peak season, and the strength of market recovery remains to be seen. The recovery of the personal computer industry is slow, and it is expected to start to recover in the second half of the year. However, artificial intelligence (AI) servers can still grow strongly, and demand from cloud service providers can still grow, but other types of products in the cloud have not seen any improvement.
Foxconn’s revenue in the second quarter was NT$1.31 trillion and the market forecast was NT$1.34 trillion; net profit was NT$33 billion, a year-on-year decrease of 1%, estimated at NT$25.93 billion; operating profit at NT$30.9 billion, compared with market estimates of NT$33.24 billion.
