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MarketScreener Homepage  >  Equities  >  Taiwan Stock Exchange  >  Hon Hai Precision Industry Co., Ltd.    2317   TW0002317005

HON HAI PRECISION INDUSTRY CO., LTD.

(2317)
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India approves 16 companies, including top Apple suppliers, for smartphone plan

10/06/2020 | 12:57pm EST
FILE PHOTO: A salesman checks a customer's iPhone at a mobile phone store in New Delhi

NEW DELHI (Reuters) - India on Tuesday said it was approving incentives under a federal plan to boost domestic smartphone production to 16 companies, including top Apple suppliers Foxconn, Wistron and Pegatron.

India's smartphone industry has become a showpiece for Prime Minister Narendra Modi's "Make In India" drive. The $6.65 billion incentive scheme is part of the government's aim to make the country into an export and manufacturing hub.

The companies have to invest to tap into the scheme. The government did not disclose what investment Foxconn, Wistron and Pegatron, which is yet to start Indian operations, will make.

Two sources previously told Reuters these three companies plan to invest a total of almost $900 million in India in the next five years to benefit from the scheme.

Samsung, which runs the world's biggest mobile phone manufacturing plant on the outskirts of New Delhi, also got approval, India's tech ministry said in a statement.

Five Indian companies, including Lava and Micromax also got confirmation, the statement said. The approved companies are expected to produce smartphones and components of more than 10.5 trillion rupees ($143.05 billion), the statement also said.

The scheme offers a production-linked incentive involving cash worth 4% to 6% of additional sales of goods made locally over five years, with 2019-2020 as the base year.

($1 = 73.4000 Indian rupees)

(Reporting by Sankalp Phartiyal. Editing by Jane Merriman)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 0.48% 116.59 Delayed Quote.58.05%
HON HAI PRECISION INDUSTRY CO., LTD. 1.22% 83 End-of-day quote.-8.59%
PEGATRON CORPORATION 0.91% 66.5 End-of-day quote.-2.78%
SAMSUNG ELECTRONICS CO., LTD. 2.10% 68000 End-of-day quote.21.86%
WISTRON CORPORATION 0.83% 30.3 End-of-day quote.6.88%
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11/10Apple's Supplier Foxconn Targets Net-Zero Emissions by 2050
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11/09HON HAI PRECISION INDUSTRY CO., LTD. : quaterly earnings release
More news
Financials
Sales 2020 5 144 B 180 B 180 B
Net income 2020 104 B 3 640 M 3 640 M
Net cash 2020 247 B 8 660 M 8 660 M
P/E ratio 2020 11,0x
Yield 2020 4,78%
Capitalization 1 145 B 40 123 M 40 169 M
EV / Sales 2020 0,17x
EV / Sales 2021 0,15x
Nbr of Employees -
Free-Float 87,4%
Chart HON HAI PRECISION INDUSTRY CO., LTD.
Duration : Period :
Hon Hai Precision Industry Co., Ltd. Technical Analysis Chart | 2317 | TW0002317005 | MarketScreener
Technical analysis trends HON HAI PRECISION INDUSTRY CO., LTD.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 97,11 TWD
Last Close Price 82,60 TWD
Spread / Highest target 33,2%
Spread / Average Target 17,6%
Spread / Lowest Target -0,73%
EPS Revisions
Managers
NameTitle
Yang-wei Liu Chairman & Chief Executive Officer
Te Tsai Huang Head-Finance & Deputy Spokesman
Tai Ming Kuo Director
Kuo Cheng Wang Independent Director
Kuo Chuan Kung Independent Director
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