TAIPEI, Aug 14 Reuters Apple supplier Foxconn beat estimates for secondquarter earnings on Monday thanks to a booming artificial intelligence sector but retained a cautious outlook for this year due to global economic uncertainties.

The world39;s largest contract electronics maker downgraded its outlook for fullyear revenue to a slight decline from a previous guidance of flat as it joins other companies grappling with a weak global economy and a sluggish recovery in China.

At present there are many external variables global monetary policy tightening, geopolitical tensions, inflation and other uncertainties, Chairman Liu Youngway said, describing Foxconn39;s outlook as relatively cautious.

Liu told an earnings briefing he sees a lot of potential in India, where Foxconn has rapidly expanded its manufacturing facilities, adding several billion dollars in investment is only a beginning.

Last month, Foxconn pulled out of a joint venture with Vedanta to make semiconductors in India, but said it intended to apply for incentives under the country39;s chip production plan.

Foxconn, which sees a growing EV contract manufacturing market, said it is very likely to mass produce electric vehicle batteries at its troubled site in Wisconsin.

Liu did not provide details.

Foxconn has made electric vehicles, or EVs, a big part of its diversification plans, and has also hired a former Nissan executive, Jun Seki, to lead its EV business expansion.

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