The Economic Times reports that Foxconn will suspend operations in its Chennai plant starting tomorrow as Nokia no longer operates its Chennai plant. It is said that 70% of business to Foxconn’s plant was coming from Nokia and with the absence of Nokia, Foxconn is facing lack of orders without which functioning is wasteful.
Foxconn invested about 850 crores on this plant and the suspension of operations will affect nearly 1,306 direct employees and 189 technicians.
This will also put an end to the discussion of Foxconn’s willingness to purchase Nokia’s idle manufacturing plant. Any hopes of Nokia N1 being manufactured in India are not going to be entertained 🙁
Hoping the workers find some other job to earn their livelihood.
Source – ET
