Taiwan’s Hon Hai Precision (also known as Foxconn) plans to expand its partnership with South Korea’s SK Group to cover semiconductors, telecoms services and energy, in addition to their current cooperation in IT services and ODM handset production.
According to DigiTimes, Foxconn chairman Terry Gou and SK Group chairman Chey Tae-Won reached a deal recently in Taipei.
The two firms have been working together since July of last year, when Foxconn invested in SK C&C, an IT services provider established in 1991. SK Telecom also recently starting marketing a new smartphone produced by Foxconn subsidiary FIH Mobile in South Korea.
Under the expanded agreement, sources told DigiTimes that SK Telecom will likely purchase more smartphones from Foxconn and the companies will collaborate to break into India’s telecoms, networking and electronic components sectors.
Foxconn, the world’s largest electronics contract manufacturer, announced plans last month to invest $5 billion in a factory in the Indian state of Maharashtra, which will employ up to 50,000 people.