Foxconn said in a statement that this year s second quarter "remains a traditional off-peak season, and major products are entering a period of transition between old and new products".
Foxconn plans to invest ₹1200 crore in a factory in India through its subsidiary, Hon Hai Technology India Mega Development. The investment is aimed at operational needs , following previous reports of Foxconn investing over $1.5 billion in an Indian construction project.
Taiwan-based consumer electronics manufacturer Foxconn has seen a substantial on-year drop in its Q1 revenue. The plight happened when iPhone demand fell during the period.