Loss 3$300 million?Luxshare Precision refutes rumors of plans to set up factories in India
A loss of 330 million?Lixun Precision officially denied the construction of a factory in India!
Indians make money, Indians spend money, one person wants to take it home", "Indian manager goes to India", Xiaomi was frozen 4.8 billion, BYD billion dollars failed to succeed, this kind of "joke" turned out to be a fact, the Indian market is "exploiting" foreign companies.
Even U.S. companies, foreign companies in India, have been subject to inexplicable inspections and fines, coupled with the messy rules and regulations formulated by Modi's people, there is no room for them to "refute", but surprisingly, Chinese companies are flocking to Indian factories.
In fact, this is also a "dilemma", there is no doubt that the market potential in India is huge, so many companies have made a lot of preparations and built their own industrial chains, even if it is just an "assembly plant", the revenue will not be too much of a problem.
Although there will be some random fines, overall profits are stable, but if you give up now, everything before will be in vain, and the situation in India is also very bad, and it is likely that it will be difficult to reinvest in new business, so Chinese companies do not plan to pull out.
And now, they have decided to move their production base to India, and let their production base move with them, so most of the foundries have chosen to give up.
However, there are also a few companies that still maintain "sobriety in the world", and Lixun Precision has replied to the 330 million investment projects that are rumored on the Internet!
** of enterprises.
Modi's team has "mastered" the psychology of Chinese companies, so they continue to suppress Chinese companies for no reason, such as arbitrarily freezing the assets of Chinese companies in India, high tax fines, delaying the follow-up investment of Chinese companies, etc., so that Indian factories have gradually become a "farce", and now Chinese companies are no longer interested in continuing to play with them.
Everyone hopes that they can be "Foxconn", but they don't know that Cook has "pinched" Foxconn to death, the production authorization of the iPhone was divided by a number of ** businessmen, and he was forced to set up a factory in India.
Modi's team, of course, also "sincerely" helped Apple win the biggest concessions, allowing 14 Indian companies to invest in India, Luxshare Precision, Sunny Optics and other companies are also within this scope, but this also has to be a form of "joint venture", CEO, financial director or something, all have to be Indians.
Some time ago, there were rumors on the Internet that Luxshare Precision had withdrawn from an investment of $330 million in India, but the reply was that the company's factory in India had not received any approval, and even visas for managers to go to India had not been issued, considering Modi's team, this situation was not impossible.
However, this time, Lixun Precision did not sit still, according to the report of "Daily Economic News", Lixun Precision denied the existence of 330 million US dollars, and said that it had never been planned, it is obvious that this project has no "deterrent" for India, so they decided to stop investing more money in this project to see which party needs them more!
Although Luxshare denied the matter, the news continued to spread, and India reacted: "India lost 330 million!"India is bent on becoming the next "factory of the world", but refuses to open its market, let alone fairness and justice, and such a "narrow-minded" approach does not look like it will do business.
Lixun Precision is the most important production base in India, if you can't establish a complete ** chain in India, then the production in India will become very difficult, and even cause panic in other countries, and even affect the production of other countries, Modi's team has made their path narrower and narrower.
The end of the Indian era.
Luxshare Precision has played a pivotal role in the entire Apple industry chain, and it was personally invited by Cook, if Modi and others find fault again, it will be tantamount to pumping their "face", and may even transfer production to India.
In addition, India's business environment has always been criticized, in order to keep Apple's orders, Luxshare Precision must follow Cook's orders, but now it seems that Luxshare Precision's problem is not a problem, and India's reaction is the same, so he chose to withdraw.
And Apple is unlikely to replace Luxshare Precision in a short period of time, as a medium-sized enterprise, they are still very confident in this, now Huawei's mobile phone industry has recovered, even if there is no Apple order, they can also replace it with their own products, which is completely different from the situation of Foxconn.
As soon as Chinese companies leave, it will inevitably trigger a series of chain reactions to attract more foreign investment into India, thereby suppressing Modi's ** and paving the way for the development of Chinese enterprises