Hon Hai Precision Industry

Taiwan fines Foxconn for unauthorised China investment

20Jan

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Technology

Taiwan fines Foxconn for unauthorised China investment

[ad_1] Taiwan on Thursday fined Foxconn T$10 million ($329,088) for making an unauthorised investment in a Chinese chip firm. Taiwan on Thursday fined Foxconn T$10 million ($329,088) for making an unauthorised investment in a Chinese chip firm, but said the Taiwanese iPhone assembler had cooperated in the case and so received a lesser punishment. Taiwan, which Beijing views as sovereign Chinese territory, has kept a wary eye on China's ambition to boost its semiconductor industry and is tightening legislation to prevent what it says is China stealing its chip technology. Foxconn, a major Apple Inc supplier and the world's largest contract electronics maker, disclosed last July it was a shareholder in Chinese chip conglomerate Tsinghua Unigroup, but said last month it would be sel...

iPhone Maker Profit Missed in Quarter Before China Covid Turmoil

[ad_1] Hon Hai Precision Industry Co., maker of most of the world’s iPhones, warned consumer electronics revenue will fall this quarter as it grapples with a Covid outbreak. Hon Hai Precision Industry Co., maker of most of the world's iPhones, warned consumer electronics revenue will fall this quarter as it grapples with a Covid outbreak that walled off its main production base in central China.The company, known also as Foxconn, reported earnings that missed estimates for the third quarter and said revenue growth will be flat for the current three-month period. Hon Hai is now trying to resume full production after a coronavirus flareup in October triggered a lockdown last week around its biggest factory in Zhengzhou, severely curtailing the flow of goods and people it needs to sustai...

iPhone Maker Foxconn Strikes Pact for Chip Plant in Western India

[ad_1] Hon Hai Precision Industry Co., the assembler of most of the world’s iPhones, plans to build a chipmaking facility in India with a local partner to tap rising demand for semiconductors and the government’s support for such projects. Hon Hai Precision Industry Co., the assembler of most of the world's iPhones, plans to build a chipmaking facility in India with a local partner to tap rising demand for semiconductors and the government's support for such projects. A joint venture of Taiwan's Hon Hai, known also as Foxconn, and metals company Vedanta Ltd. will set up a factory in Gujarat, the home state of Prime Minister Narendra Modi. The total investment in the project, which includes semiconductor fabrication, assemb...