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Foxconn reportedly sought to give up its $800 million stake in Chinese chip maker

by Ruslan Burak
July 3, 2023
in Technology
2 min read
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Taiwan national security officials want To convince Apple Inc supplier Foxconn. Abandoning an investment of $800 million in The Financial Times reported that Chinese chip maker Tsinghua Unigroup on Wednesday.

The report, citing a senior Taiwanese government official included in national security issues.

Taiwan world’s largest contract electronics maker, Airport, has become increasingly wary about China’s ambition to boost its semiconductor sector. I suggested new Laws to prevent what says Is China stealing its technology middle? rising Fears in Taipei that Beijing is stepping up Economic espionage.

carrots government Companies are prohibited from building Their most advanced foundry in China ensure not outside them best technology.

Taiwan is facing increasing pressure from China, which considers the democratically governed island its territory.

Taiwan Cabinet Committee has not yet formally review Investments, Financial Times report on Wednesday, citing an unnamed person who been informed on The matter is as he said, adding that officials from the National Security Council and the Mainland Affairs Council believe the deal needs to stop.

Foxconn said in In a statement, the Taiwan authorities have reported on the investment and will continue to talk to them government officials. He did not go into details.

that it clear They raised this to national The Financial Times report indicated that the level of safety and prospects are dwindling one A person close to the company also said and added to look bargain more hard to pass Across with Increased tensions in Taiwan Strait.

Tensions escalated in Taiwan Strait after the US House of House Speaker Nancy Pelosi visited the self-governing island that China claims last week, move which Beijing condemned as a threat to peace and stability.

Last month, Foxconn said it was a shareholder in Boxed chip conglomerate Tsinghua Unigroup via A $798 million investment by a subsidiary.

Meanwhile, Foxconn on Wednesday scored 12% jump in second-quarter net profit and hit market Estimates, with powerful help demand for Cloud computing products.

The world’s largest contract electronics maker said net he won for April and June quarter to NT$33.29 billion from NT$29.78 billion year earlier.

company, like else global Manufacturers, grapple with Acute shortage of The chips that have shrunk the production of smartphones, and more Recently deflation in Major Markets Amid Rising Inflation and War in Ukraine.

Foxconn shares closed 0.9% higher Before of The earnings Release for 0.7% drop in the widest market. They are up 5.8% so far this yearwhich gives the company a market the value of $50.3 billion.

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