(Yicai Global) Nov. 9 -- Foxconn founder Terry Gou has moved to allay market concerns that a reduction in iPhone orders could weigh heavy on the world's biggest contract manufacturer's financial performance and stock price.

The Taipei-based firm still expects a bright future for sectors related to the industrial internet and this aspect deserves more attention than stock prices, Gou told Yicai Global at this year's World Internet Conference, which runs until tomorrow in Wuzhen, Zhejiang province.

Apple recently reduced its Foxconn purchase orders by 10 percent and lower-than-expected sales of the iPhone XS have raised concerns among investors.

Foxconn has started working with Tencent on cloud computing, Guo said, adding that it will also work with AliCloud in the future as well. "The internet is already very advanced and the combination of manufacturing and the internet will happen in the near future, we will spare no effort in promoting this," he said.

'There is a general consensus among WIC attendees that the consumer internet has reached its peak, so what can we develop next? The industrial internet from the aspect of manufacturing," Guo said, adding that the private and real economies, governments and industries, as well as the internet companies all expect the transformation from the internet economies to the industrial internet is the next step of development.

'The future is definitely the integration of software and hardware while the virtual economy will nourish the real economy in the end,' Guo said. "If Foxconn believes the industrial internet is the right direction then we insist on developing this strategy."

Guo remained silent on speculation on the company's possible USD4.1 billion factory in Wisconsin. "Our first choice is to employ and train local residents of Wisconsin and primarily allocate workers from other parts of the US,' Foxconn said recently in response to reports that Chinese workers could be dispatched in the country.