Foxconn chief hints reduced role, will remain chairman

Foxconn Chairman Terry Gou Says Aims to Step Down to Pave Way for Younger Talent

Foxconn Chairman Terry Gou Says Aims to Step Down to Pave Way for Younger Talent

Foxconn Chairman Terry Gou says India's Prime Minister Narendra Modi invited the expansion.

Apple's iPhones will be mass produced in India by Foxconn Technology from this year onwards, marking a shift of the company's production from China, Bloomberg reported. The facility is expected to create 13,000 jobs.

Reuters reports that Terry Gou is halting his career there "to pave the way for younger talent to move up the company's ranks".

"I will still be involved and be in charge of the company's major directions in the future but I will take a more advisory role on daily operations", Gou said on the sidelines of a forum in Taipei".

He is reportedly the company's largest shareholder, according to Forbes.

It's not yet clear how Apple's steps into India will affect its China operations.

The Indian assembly line of Foxconn's Hon Hai Precision Industry would serve local and export markets by the time Apple announces its next iPhone models in September, people familiar with the matter have said.

Gou also said he plans to write a book to pass on the lessons of his 45 years of management experience.

Producing phones locally would also help Apple's retail push in India. Due to Chinese competitors like Xiaomi offering advanced features at lower prices, Apple is losing its market share in the country.

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