Foxconn says R&D excluded from expense cut plan
To clarify concerns raised about its expense cut, Foxconn Electronics (Hon Hai Precision Industry) has maintained that the budget reduction is primarily aiming at business units that have failed to achieve their financial targets and external investments that have not achieved expected profitability.
Items that will be cut include expenses for business administration, processes and logistics, but those for R&D and new product development will be untouched.
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