Foxconn writes off $40 mn of its $200-mn Snapdeal investment
Foxconn's investment subsidiary FIH Mobile has written off $40 million of its $200 million investment in Snapdeal. It comes after the company announced it had undertaken an impairment loss of $160 million for its investment in Snapdeal's parent firm Jasper Infotech. Furthermore, FIH estimated the recoverable investment amount to be $3 million, citing failed Flipkart-Snapdeal merger as the cause.