Foxconn chairman urges patience as sales slow

[TAIPEI] Foxconn Technology Group chairman Terry Gou asked shareholders to give him time to invest in new businesses including car electronics and cloud computing as he chases clients such as Tesla Motors amid slowing sales.

"Please be patient, don't be in a hurry," Mr Gou said yesterday at the annual meeting of Hon Hai Precision Industry Co, Foxconn's largest unit. "I'm also the biggest shareholder, so if it's bad for Hon Hai it's also bad for me." Foxconn, the key iPhone manufacturer for Apple and China's largest private employer, also plans to boost investment in robotics and add more high-skilled positions as Mr Gou strives to meet his goal for profit growth of 10 per cent.

Foxconn's founder has met executives including Tesla's Elon Musk, SoftBank Corp's Masayoshi Son and Alibaba's Jack Ma to discuss future cooperation.