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Foxconn setting up chip packaging and testing venture with India’s HCL
Foxconn has set up a joint venture with Indian IT giant HCL Group to establish its semiconductor packaging and testing operations in India, as the Apple Foxconn has set up a joint venture with Indian IT giant HCL Group to establish its semiconductor packaging and testing operations in India.
Foxconn has set up a joint venture with Indian IT giant HCL Group to establish its semiconductor packaging and testing operations in India, as the Apple manufacturing partner looks to expand its presence in the South Asian nation to reduce reliance on China. As a part of the deal, Foxconn Hon Hai Technology India Mega Development, a subsidiary of the Taiwanese company, will invest $37.2 million for a 40% stake, it disclosed in a stock exchange filing. The manufacturer also submitted a fresh application to start its semiconductor fabrication unit in the country later in the year, Deputy IT Minister Rajeev Chandrashekhar said in the parliament.
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