Taiwan to Fine Foxconn for Unauthorised China Investment
2 years ago

Taiwan to Fine Foxconn for Unauthorised China Investment

News 18  

TAIPEI:Taiwan's government said on Saturday it would fine Foxconn, the world's largest contract electronics maker, for an unauthorised investment in a Chinese chip maker even after the Taiwanese firm said it would be selling the stake. Late Friday, Foxconn said in a filing to the Taipei stock exchange its subsidiary in China had agreed to sell its entire equity stake in Tsinghua Unigroup. Taiwan's Economy Ministry said in response that its investment commission, which has to approve all foreign investments, will ask Foxconn on Monday for a "complete explanation" about the investment. Foxconn said that Xingwei, 99% controlled by its China-listed unit Foxconn Industrial Internet Co Ltd, had agreed to sell its holdings for at least 5.38 billion yuan to a Chinese company called Yantai Haixiu.

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History of this topic

Foxconn to build new business HQ in Henan
4 months, 4 weeks ago

Foxconn to build new business HQ in Henan

China Daily  

Foxconn Technology Group, the world's largest electronics manufacturing contractor, plans to invest 1 billion yuan to establish a new business headquarters in Zhengzhou, Henan province, as the company is diversifying revenue sources and reducing its heavy dependence on assembling Apple's iPhones. Roger Sheng, vice-president of research at US market research company Gartner, said Foxconn is diversifying its business layout and …

Foxconn to invest 1b yuan in new headquarters
5 months ago

Foxconn to invest 1b yuan in new headquarters

China Daily  

The logo of Foxconn is seen at Longhua district, Shenzhen, Guangdong province, Sept 3, 2022. Foxconn Technology Group, the world's largest electronics manufacturing contractor, plans to invest 1 billion yuan to establish a new business headquarters in Zhengzhou, Henan province, as it has signed a strategic partnership with the provincial government. With a construction area of approximately 70,000 square meters, …

China may be losing its sway over Taiwanese business
11 months, 1 week ago

China may be losing its sway over Taiwanese business

Live Mint  

ON JANUARY 13TH William Lai Ching-te was elected as Taiwan’s president. Chinese data suggest that in 2022 Taiwanese firms had assets worth $43bn in the People’s Republic; by comparison the figure for companies from America, an economy 35 times the size of Taiwan’s, was $86bn. The corporate supporters of the first DPP president, Chen Shui-bian, who served from 2000 to …

Foxconn shares slide after report says China probing taxes, land use
1 year, 2 months ago

Foxconn shares slide after report says China probing taxes, land use

Al Jazeera  

Apple supplier’s shares dropped as much as 3 percent after report by China’s state-owned Global Times. Shares in Taiwan’s Foxconn, a major supplier of Apple’s iPhones, dropped by as much as 3 percent on Monday after a report the company is the subject of tax audits and land use probes in China just months ahead of a Taiwanese election. China’s …

Foxconn under tax and land use investigations in China
1 year, 2 months ago

Foxconn under tax and land use investigations in China

The Hindu  

Taiwanese tech giant Foxconn is under tax and land use investigations at several of its sites in China, state media reported on October 22. Chinese authorities are inspecting Foxconn's sites in southern Guangdong province and Jiangsu in the east, as well as carrying out on-site investigations into the company's land use in central Hunan and Hubei provinces, China's state-run Global …

Apple supplier Foxconn subjected to tax inspections by Chinese authorities
1 year, 2 months ago

Apple supplier Foxconn subjected to tax inspections by Chinese authorities

Associated Press  

BANGKOK — Foxconn, a Fortune 500 company known globally for making Apple iPhones, was recently subjected to searches by Chinese tax authorities, according to local reports Sunday. Foxconn, a Taiwanese -headquartered company officially registered as Hon Hai Precision Industry Co., Ltd, had its offices in Guangdong and Jiangsu provinces searched by tax officials, according to a report in the Chinese …

Day after Foxconn's withdrawal from joint venture, Vedanta shares decline nearly 3% in early trade
1 year, 5 months ago

Day after Foxconn's withdrawal from joint venture, Vedanta shares decline nearly 3% in early trade

Hindustan Times  

Shares of Vedanta on Tuesday fell by nearly 3 per cent after Taiwan's Foxconn withdrew from a USD 19.5 billion semiconductor joint venture with mining baron Anil Agarwal's firm. Foxconn has withdrawn from a USD 19.5 billion semiconductor joint venture with Vedanta Ltd as the venture struggled to get a technology partner to make chips that are used in mobile …

Foxconn to apply for India chipmaking incentives after breaking up with Vedanta
1 year, 5 months ago

Foxconn to apply for India chipmaking incentives after breaking up with Vedanta

India Today  

Taiwan's Foxconn said on Tuesday it plans to apply for incentives that India is offering under its semiconductor manufacturing policy, a day after the company parted ways with Vedanta on a $19.5 billion chipmaking joint venture. "Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem," the company said. On Monday, Foxconn withdrew from …

Foxconn drops plans for $19.5 billion JV with Vedanta to make electronic chips
1 year, 5 months ago

Foxconn drops plans for $19.5 billion JV with Vedanta to make electronic chips

Hindustan Times  

Taiwan's Foxconn said on Monday it has withdrawn from a $19.5 billion joint venture with Indian metals-to-oil conglomerate Vedanta, in a setback to Prime Minister Narendra Modi's chipmaking plans for India. Gujarat Chief Minister Bhupendra Patel, Union Minister for Communications and Electronics & Information Technology Ashwini Vaishnaw, and Vedanta Resources Limited, Chairman, Anil Agarwal during the MoU signing ceremony between …

Foxconn denies allegations Apple will move supply chain outside China
1 year, 5 months ago

Foxconn denies allegations Apple will move supply chain outside China

China Daily  

The logo of Foxconn is seen at Longhua district, Shenzhen, Guangdong province, Sept 3, 2022. Liu Young-way, chairman and CEO of Foxconn Technology Group, the world's largest electronics manufacturing contractor, denied that Apple Inc planned to move its supply chains out of Chinese mainland. Foxconn, formally known as Hon Hai Precision Industry Co, is a key supplier of Apple. Looking …

Apple supplier Foxconn plans to rely less on China for revenue
1 year, 9 months ago

Apple supplier Foxconn plans to rely less on China for revenue

Live Mint  

TAIPEI : Foxconn Technology Group, one of Apple’s biggest suppliers, said it would rely less on China as a source of revenue as it diversifies production sites to strengthen supply-chain resilience. Taiwan-based Foxconn, best known for assembling Apple Inc.’s iPhones and other products in big plants in mainland China, has been diversifying its production sites as well as the products …

Foxconn fine for unauthorised China investment likely to be imposed soon
2 years ago

Foxconn fine for unauthorised China investment likely to be imposed soon

The Hindu  

Foxconn, the world's largest contract electronics maker, is likely to be fined soon by Taiwan's government for an unauthorised investment in a Chinese chip maker, a person with direct knowledge of the situation said on Monday. Taiwan, which Beijing views as sovereign Chinese territory, has turned a wary eye on China's ambition to boost its semiconductor industry and is tightening …

Foxconn faces hefty fines from Taiwanese government for unauthorised investment in Chinese chip makers
2 years ago

Foxconn faces hefty fines from Taiwanese government for unauthorised investment in Chinese chip makers

Firstpost  

Taiwan has accused China of stealing Taiwanese chip technology. That’s why, they require all Taiwanese businesses to get permission from the Taipei government before investing in Chinese businesses, something that Foxconn failed to do. In a bid to dissuade other semiconductor manufacturers from getting involved with China, Taiwanese officials have decided to fine Foxconn a hefty amount for their unauthorised …

Foxconn to ease COVID-19 curbs in Chinese iPhone factory
2 years ago

Foxconn to ease COVID-19 curbs in Chinese iPhone factory

Associated Press  

HONG KONG — The company that assembles Apple Inc.’s iPhones has announced it is easing COVID-19 restrictions at its largest factory in China that led thousands of workers to quit and drastically slowed production. Foxconn Technology Group said in a statement on one of its official WeChat social media accounts that it would end the so-called “closed loop” system at …

Foxconn apologizes for pay dispute at China factory
2 years, 1 month ago

Foxconn apologizes for pay dispute at China factory

Associated Press  

BEIJING — The company that assembles Apple Inc.’s iPhones apologized Thursday for a pay dispute that triggered employee protests at a factory where anti-virus controls have slowed production. It promised to “try its best to actively solve the concerns and reasonable demands of employees.” Late Wednesday, Apple said it had people on the ground at Foxconn’s Zhengzhou facility. “We are …

Foxconn apologizes for pay dispute at China factory
2 years, 1 month ago

Foxconn apologizes for pay dispute at China factory

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Protests erupted Tuesday in the central city of Zhengzhou …

'Technical error': Foxconn tenders apology after protests over pay and work culture at China iPhone facility
2 years, 1 month ago

'Technical error': Foxconn tenders apology after protests over pay and work culture at China iPhone facility

India TV News  

Protests in China: After violent protests erupted over salaries and conditions at its vast iPhone factory in central China, Taiwanese tech giant Foxconn on Thursday apologised for a "technical error" in its payment systems. In response to complaints about unsafe working conditions, thousands of employees at Foxconn, the largest contract manufacturer of smartphones and other electronics, left the facility in …

Apple supplier Foxconn to update on outlook after China COVID-19 curbs
2 years, 1 month ago

Apple supplier Foxconn to update on outlook after China COVID-19 curbs

The Hindu  

Apple Inc. supplier and iPhone assembler Foxconn plans to update its fourth-quarter outlook on Thursday, having warned this week of the impact of COVID-19 restrictions at a major plant in China's Zhengzhou. Foxconn's main Zhengzhou plant in central China, which employs about 200,000 people, has been rocked by discontent over stringent measures to curb the spread of COVID-19, with many …

Apple supplier Foxconn says working to resume China production as soon as possible
2 years, 1 month ago

Apple supplier Foxconn says working to resume China production as soon as possible

The Hindu  

Taiwan's Foxconn, Apple Inc's biggest iPhone maker, said on Monday it was working to resume full production at a major plant in China's Zhengzhou as soon as possible that has been hit by COVID-19 curbs and revised down its fourth quarter outlook. The Zhengzhou Airport Economy Zone in central China said it would impose "silent management" measures with immediate effect, …

Tech behemoth Foxconn: The new victim of China’s zero-COVID strategy
2 years, 1 month ago

Tech behemoth Foxconn: The new victim of China’s zero-COVID strategy

Firstpost  

Foxconn, the world’s largest contract electronics manufacturer, is the latest victim of China’s no-compromise zero-COVID strategy, as Beijing has imposed a strict lockdown on an area of central China housing a massive iPhone factory run by the tech giant Taipei: China has imposed a strict lockdown on an area of central China housing a vast iPhone factory operated by Taiwanese …

Apple supplier Foxconn quadruples bonuses to staff hit by China COVID-19 lockdown
2 years, 1 month ago

Apple supplier Foxconn quadruples bonuses to staff hit by China COVID-19 lockdown

The Hindu  

Apple supplier Foxconn said on Tuesday it has quadrupled bonuses on offer for workers at its Zhengzhou plant in central China as it works to quell employee discontent at the major iPhone manufacturing site over COVID curbs. Daily bonuses for employees, who are part of a Foxconn unit responsible for making electronics including smartphones at the site, have been raised …

As China crisis goes on Taiwan wants Apple supplier Foxconn to back down on Tsinghua Unigroup Chinese chipmaker deal
2 years, 4 months ago

As China crisis goes on Taiwan wants Apple supplier Foxconn to back down on Tsinghua Unigroup Chinese chipmaker deal

The Hindu  

Taiwan's national security officials want to persuade Apple Inc's supplier Foxconn to unwind an $800 million investment in Chinese chipmaker Tsinghua Unigroup, the Financial Times reported on Wednesday. Taiwan's cabinet commission has yet to formally review the investments, the FT report on Wednesday quoted an unnamed person who was briefed on the matter as saying, adding that officials from the …

Taiwan weighs Foxconn fine for China chip investment
2 years, 5 months ago

Taiwan weighs Foxconn fine for China chip investment

The Hindu  

Taiwan's government is considering fining tech giant Foxconn up to T$25 million over its investment in a Chinese chip conglomerate without first getting regulatory approval, two sources briefed on the matter said on Friday. Foxconn, the world's largest contract electronics maker, said this week it has become a shareholder in embattled Chinese chip conglomerate Tsinghua Unigroup via a 5.38 billion …

Taiwan says Foxconn needs govt approval for any China chip firm investment
2 years, 5 months ago

Taiwan says Foxconn needs govt approval for any China chip firm investment

The Hindu  

Taiwan media has reported that Foxconn's China-listed unit Foxconn Industrial Internet Co Ltd plans to spend 9.8 billion yuan for a stake in Unigroup, as part of Foxconn's plans to get more into chip-making. The island's government has become increasingly cautious about China's ambition to boost its semiconductor industry and has proposed new laws to prevent what it says is …

Foxconn predicts more stable supply chain in the second half of 2022
2 years, 6 months ago

Foxconn predicts more stable supply chain in the second half of 2022

The Hindu  

Taiwan's Foxconn, the world's largest contract electronics maker, said on Tuesday that the second half of the year is heading "in a better direction" as Shanghai's COVID-19 lockdown appears to be easing. "We are quite confident in the stability of our supply chain for the second half of this year," Foxconn chairman Liu Young-way told the company's annual shareholder meeting. …

Foxconn unit sees limited impact from suspended China plant
2 years, 8 months ago

Foxconn unit sees limited impact from suspended China plant

The Hindu  

Operations at a unit of Taiwan-based Apple Inc supplier Foxconn in China's Kunshan city remain suspended because of COVID-19 controls but there is limited impact as it has shifted production elsewhere, it said on Monday. The operations in Kunshan of Foxconn Interconnect Technology, which makes data transmission equipment and connectors, will remain closed until the authorities give permission to restart, …

The curious case of Vedanta’s Foxconn tie-up to make chips
2 years, 10 months ago

The curious case of Vedanta’s Foxconn tie-up to make chips

Live Mint  

This week’s announcement that India’s Vedanta Group has tied up with Taiwan’s Foxconn Technology Group to make chips is being lauded as proof that New Delhi is gaining traction with its plans to build a semiconductor industry. India’s government is offering almost $7 billion of enticements to boost its electronics manufacturing sector, which includes a Production Linked Incentive scheme, and …

Foxconn to shift some Apple production to Vietnam to minimise China risk
4 years ago

Foxconn to shift some Apple production to Vietnam to minimise China risk

The Hindu  

Foxconn is moving some iPad and MacBook assembly to Vietnam from China at the request of Apple Inc, said a person with knowledge of the plan, as the U.S. firm diversifies production to minimise the impact of a Sino-U.S. trade war. Foxconn is building assembly lines for Apple's iPad tablet and MacBook laptop at its plant in Vietnam's northeastern Bac …

Foxconn plans further investment in India, sees 'favourable' outlook in the country
4 years, 6 months ago

Foxconn plans further investment in India, sees 'favourable' outlook in the country

Firstpost  

Foxconn chairman says India was a bright spot for development even though there was a “certain impact” at present due to the virus. Taiwan’s Foxconn is planning further investment in India and may announce details in the next few months as the world’s largest contract manufacturer views the outlook there very favourably, its chairman said on Tuesday. Foxconn already makes …

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