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India Business News: Foxconn teams up with HCL Group to start a chip packaging and testing venture in India. Foxconn will invest $37.2 million for a 40% ownership in the j

Foxconn and HCL Group are set to enter a joint venture to set up a chip packaging and testing facility in India, as the long-time Apple partner diversifies from China. Foxconn Hon Hai Technology India Mega Development, a subsidiary of the Taiwanese parent Foxconn, will invest $37.2 million for a 40% stake, it disclosed in a Taiwan Stock Exchange filing. Rest of the stake will be held by HCL. The two entities will together set up a outsourced semiconductor assembly and testing facility.

Nadar Malhotra stated that HCL Group sees Foxconn as a great strategic partner. “A lot a lot of people know them much more for their manufacturing prowess, but a big part of the universe of their manufacturing is the work that they do (is) in semiconductor design.”

Japan's industry ministry said it would provide Samsung subsidies worth up to 20 billion yen as it looks to support the revitalisation of domestic chip manufacturing.

Samsung Electronics: Japan's industry ministry said it would provide Samsung subsidies worth up to 20 billion yen as it looks to support the revitalisation of domestic chip manufacturing.