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Foxconn Targets 10 12 Facilities in India by 2020, Chairman Says

Foxconn Targets 10-12 Facilities in India by 2020, Chairman Says

By Reuters | Updated: 26 May 2015 18:00 IST

Taiwan's Foxconn Technology Group, the world's largest contract electronics manufacturer, is aiming to develop 10-12 facilities in India, including factories and data centres, by 2020, company Chairman Terry Gou said on Tuesday.

The company could spend a "few billion dollars" on developing the facilities, said Gou, whose company's listed flagship unit is Hon Hai Precision Industry Co Ltd.

Gou was speaking in an interview on a bus on the outskirts of Guiyang in China's southern Guizhou province, where the company has a manufacturing facility.

Foxconn was last in the news when Android distribution maker Cyanogen announced it had received strategic investment from the company. Cyanogen had said the investment, which included contributions from other investors, will be used to "accelerate talent hiring and the development of its open OS platform."

In March, Foxconn had said it would consider helping rescue Japanese electronics maker Sharp, the company said in a statement late on Friday. Hon Hai's willingness to "participate" in Sharp has never been limited to investing, but could include technology licensing transfer and other forms of cooperation. Hon Hai bought a 38 percent stake in a Sharp Corp TV panel plant in Sakai, Japan in 2012. It has been investing in its display business to diversify from low-margin contract manufacturing.

Back in January, Foxconn said it will cut its massive workforce as it faces declining revenue growth and rising wages in China. The group employs about 1.3 million people during peak production times, making it one of the largest private employers in the world.

Written with inputs from Reuters

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