Foxconn unit invests $1.5B in Chinese chipmaker - Mobile World Live

Foxconn unit invests $1.5B in Chinese chipmaker

14 JUL 2022

The Shanghai-listed subsidiary of Hon Hai Precision (Foxconn) acquired a 15 per cent interest in China-based Tsinghua Unigroup through a newly-created investment fund, a move Nikkei Asia reported advanced the parent company’s semiconductor ambitions.

Taipei Times stated Foxconn Industrial Internet invested CNY9.8 billion ($1.5) in the troubled Chinese chipmaker through the Xingwei (Guangzhou) Industrial Investment Partnership fund.

Tsinghua Unigroup recently emerged from bankruptcy following a reorganisation, the newspaper wrote.

It added the investment required approval from a dedicated regulator due to “sensitive technologies” being involved and the amount.

The investment fund is one of ten private equity companies controlled by Beijing Zhiguangxin Holding, which now owns 100 per cent of the state-owned chipmaker which Taipei Times labelled China’s largest chip company.

Foxconn has taken a number of steps over the past 15 months to move into chipmaking in India and its home market.

It holds an 85 per cent stake in Foxconn Industrial Internet.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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