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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results
Porsche posts Q1 profit drop on ramp-up costs