Foxconn defends Tsinghua Unigroup deal to Taiwanese authorities

Key iPhone assembler's stake in embattled Chinese chipmaker draws scrutiny at home

Taiwanese electronics assembler Foxconn has indirectly taken a 10% stake in Chinese tech company Tsinghua Unigroup, raising eyebrows among regulators. (Source photo by AP and Reuters)

LAULY LI and CHENG TING-FANG, Nikkei Asia tech correspondents

July 21, 2022 17:40 JST

TAIPEI -- Foxconn on Thursday defended its $800 million investment in embattled Chinese tech conglomerate Tsinghua Unigroup, after the move drew scrutiny from Taiwan regulators.

The world's largest contract electronics manufacturer is facing a potential fine for investing in the embattled, Beijing-backed group without obtaining prior approval from Taiwanese authorities.