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Foxconn unit writes down 80% investment in India’s Snapdeal

With Indian online marketplace Snapdeal staving off a takeover bid by leading player Flipkart, some of the investors have turned bearish about the company’s prospects. The latest to do so is FIH Mobile, the Hong Kong-listed unit of Foxconn Technology Solutions. It has written down 80% of its US$ 200-million investment in Snapdeal, reports Economic […]