Mobile Manufacturing In India Falls 40% Due To Demonetization
Tuesday, December 20, 2016, 12:05 PM
After demonetization by the Government, production of mobile phones in India, has come down by at least 40%. Scrapping of 500 and 1000 rupee notes, has forced customers to postpone their purchases, destroying the demand in the mobile phone industry. Hand set manufactures like Foxconn, Flextronics and GDN-Wistron are looking to cut jobs, or send employees on paid leave.