April 18, 2024
Taiwan’s Foxconn is partnering with India’s HCL Group to arrange an outsourced meeting and testing unit (OSAT) for semiconductor chips, the 2 trade teams mentioned in separate statements. Whereas Foxconn Hon Hai Expertise India Mega Growth Non-public Restricted, a subsidiary of Hon Hai Applied sciences, knowledgeable the Taiwanese inventory exchanges of this improvement, the HCL Group mentioned that the partnership was “a possibility that gives strategic adjacency to the Group portfolio”.

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“HCL Group plans to accomplice with Foxconn Group to ascertain OSAT operations in India. HCL Group has a powerful engineering and manufacturing heritage and this is a chance that gives strategic adjacency to the Group portfolio,” a spokesperson for the corporate mentioned in an announcement.

Foxconn will maintain near 40% stake within the partnership and make investments near $37.2 million and HCL will maintain the remainder of the stake.

An OSAT unit gives third-party chip packaging and testing providers to semiconductor fabrication models.

ET had in November 2023 reported that the HCL Group was near organising a “small-to-medium sized” chip meeting unit. Sources had then instructed ET that the Karnataka state authorities had supplied HCL group land close to the worldwide airport in Bengaluru in addition to in Mysuru.

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