Foxconn Electronics (Hon Hai Precision Industry) has teamed up with China's Jinan municipal government to set up a CNY3.75 billion (US$545.9 million) investment fund to boost the local semiconductor industry in Shandong, eastern China, according to local media reports.

Under its agreement reached with the local government, Foxconn will utilize its group resources to assist in the formation of five IC design houses and one high-power semiconductor company in Jinan, the reports said.

Foxconn chairman Terry Gou was quoted in previous reports saying the group will be strengthening its deployments in the semiconductor field. Foxconn has established a subgroup to consolidate resources to carry out its semiconductor ambitions.

Foxconn's chipmaking related affiliates including Fitipower Integrated Technology, Foxsemicon Integrated Technology, Shunsin Technology and Socle Technology are already operated under the new semiconductor subgroup, according to industry sources. Subsidiary Sharp also offers wafer fabrication services, the sources said.

AI and industrial IoT will be among the major target markets of Foxconn's semiconductor subgroup, the sources noted.

By: DocMemory
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