Foxconn looks to tech on more than making smartphones
Taiwanese contract manufacturer Foxconn is looking to move up the value chain to go beyond smartphones and make products for sectors like information and communication technology (ICT), electric vehicles (EV), batteries as part of their EV strategy and digital health in its next phase of growth in India, its chairman Young Liu told ET on Saturday.
“Foxconn is very well known for its vertical integration capabilities. Definitely, we want to move up on the value chain as much as we can in India. That’s what we will be doing in the ICT sector,” Liu said on the sidelines of the inauguration of the company’s massive industrial housing project in Sriperumbudur. “For sectors other than ICT, we think (we will focus on) EVs and energy and also the digital health industry, like wearables for personal use, home use type of medical devices,(and) in hospitals you can have cloud-based digital health systems,” he added.
In the case of energy, Foxconn is looking to target batteries, which will be related to its larger EV strategy. Generative artificial intelligence (GenAI) will play a “very big part” in the company’s strategy as it makes “a lot of impossible things possible,” he said.
Liu, who was awarded the Padma Bhushan this year, also said Foxconn is looking at setting up townships in Tamil Nadu, replicating its model in countries like Taiwan and China. “We have been doing this in many different countries,” he explained. “So, we are very used to this and we think this kind of township will eventually bring value not just to
