Hon Hai announces joint semiconductor OSAT venture with India’s HCL GroupStaff writer, with CNAHon Hai Precision Industry Co (鴻海精密), also known as Foxconn Technology Group (富士康科技集團) internationally, on Wednesday announced a semiconductor packaging and testing service joint venture with India’s HCL Group. The iPhone assembler said in a statement that its subsidiary Foxconn Hon Hai Technology India Mega Development Private Ltd has teamed up with HCL to set up a semiconductor joint venture in India. By investing US$37.20 million, the subsidiary secured a 40 percent stake in the outsourced semiconductor assembly and test (OSAT) joint venture, which has set its sights on India’s semiconductor market, it said. In July last year, Hon Hai announced it would be pulling out of a US$19.5 billion joint venture with Indian conglomerate Vedanta Group to make semiconductors in India. Indian media reports said that the breakup might have been caused by the slow pace at which the joint venture was proceeding.

Source: Taipei Times January 19, 2024 21:34 UTC