Foxconn setting up chip packaging and testing venture with India's HCL | TechCrunch

Foxconn has set up a joint venture with Indian IT giant HCL Group to establish its semiconductor packaging and testing operations in India, as the Apple manufacturing partner looks to expand its presence in the South Asian nation to reduce reliance on China.

As a part of the deal, Foxconn Hon Hai Technology India Mega Development, a subsidiary of the Taiwanese company, will invest $37.2 million for a 40% stake, it disclosed in a stock exchange filing.

Read more at: https://techcrunch.com