Shulou(Shulou.com)11/24 Report--

CTOnews.com, August 14, Foxconn announced on August 3 that it would invest US $600 million (CTOnews.com Note: currently about 4.314 billion yuan) in Karnataka, India, to set up production bases for iPhone shell parts and chip manufacturing equipment.

In addition, the Indian state of Tamil Nadu also announced that Foxconn will invest $194 million (currently about 1.408 billion yuan) to build a new electronic components manufacturing facility, creating 6000 jobs.

In response to a question about the plan to set up a plant in India, Hon Hai Chairman Liu Yangwei said that if the plan can be fully implemented, the multibillion-dollar investment in India is "just the beginning" when Hon Hai released its latest results for the second quarter of 2023.

Liu Yangwei, chairman of Hon Hai, pointed out that as the second half of the year enters the traditional peak season, the strength of the market recovery remains to be observed, the personal computer industry recovers slowly, and is expected to begin 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 cloud products have not improved.

Hon Hai's second-quarter revenue is 1.31 trillion New Taiwan dollars (currently about 298.68 billion yuan), and the market is forecast to be 1.34 trillion New Taiwan dollars; net profit is 33 billion New Taiwan dollars (currently about 7.524 billion yuan), down 1 percent from a year earlier, with an estimated operating profit of 25.93 billion New Taiwan dollars; operating profit is estimated at 332.4 New Taiwan dollars.

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