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Taiwan's Foxconn Technology Group is teaming up with STMicroelectronics NV for a bid to build a semiconductor factory in India, said a report on Thursday.
Taiwan’s Foxconn and Franco-Italian STMicro are applying for state support for a 40-nanometer chip plant, reported Bloomberg.
The move comes nearly two months after Foxconn decided to pull out of Vedanta joint venture.
The Vedanta-Foxconn JV had announced the setting up of India's first electronic chip manufacturing unit in Gujarat with an investment of around $20 billion.
40-nanometer chips are used in cars, cameras, printers and a wide variety of other machines.
"By partnering with STMicro, contract manufacturer Foxconn is tapping the expertise of a chip-industry pioneer to expand in the lucrative but difficult semiconductor business," the report said.
New Delhi has asked Foxconn, best known as Apple Inc.’s key assembly partner, for more details about its partnership with STMicro, the people said.
Other chip-related firms moving into India include Advanced Micro Devices Inc. and equipment maker Applied Materials Inc., which plan to spend $400 million each on R&D and engineering centers in the southern tech hub of Bengaluru.
Foxconn, the leading contract manufacturer of electronics, already has an iPhone factory in Tamil Nadu, which employs 40,000 people.
Young Liu, Chairman of Hon Hai Technologies, recently said, “If there are no major changes in the future, India will become a new manufacturing centre in the world.” He added that Taiwan would be India’s most trusted and reliable partner.
He added: “The supply chain ecosystem that took more than 30 years to build in China will take time to transfer to India, but fortunately, we already have experience in this area, and it is expected that the time will be relatively shorter. There are huge opportunities for the local electronics industry to develop.”
Liu also acknowledged that Foxconn is continuing to expand its presence in India in response to customer needs.
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Taiwan’s Foxconn and Franco-Italian STMicro are applying for state support for a 40-nanometer chip plant, reported Bloomberg.
The move comes nearly two months after Foxconn decided to pull out of Vedanta joint venture.
The Vedanta-Foxconn JV had announced the setting up of India's first electronic chip manufacturing unit in Gujarat with an investment of around $20 billion.
40-nanometer chips are used in cars, cameras, printers and a wide variety of other machines.
"By partnering with STMicro, contract manufacturer Foxconn is tapping the expertise of a chip-industry pioneer to expand in the lucrative but difficult semiconductor business," the report said.
New Delhi has asked Foxconn, best known as Apple Inc.’s key assembly partner, for more details about its partnership with STMicro, the people said.
Other chip-related firms moving into India include Advanced Micro Devices Inc. and equipment maker Applied Materials Inc., which plan to spend $400 million each on R&D and engineering centers in the southern tech hub of Bengaluru.
Foxconn, the leading contract manufacturer of electronics, already has an iPhone factory in Tamil Nadu, which employs 40,000 people.
Young Liu, Chairman of Hon Hai Technologies, recently said, “If there are no major changes in the future, India will become a new manufacturing centre in the world.” He added that Taiwan would be India’s most trusted and reliable partner.
He added: “The supply chain ecosystem that took more than 30 years to build in China will take time to transfer to India, but fortunately, we already have experience in this area, and it is expected that the time will be relatively shorter. There are huge opportunities for the local electronics industry to develop.”
Liu also acknowledged that Foxconn is continuing to expand its presence in India in response to customer needs.
Foxconn finds a new partner to build chip plant in India after parting ways with Vedanta: Report
Taiwan’s Foxconn and Franco-Italian STMicro are applying for state support for a 40-nanometer chip plant, said a report
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