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Foxconn to invest $1.5bn in chipmaker Tsinghua Unigroup

iPhone assembler eyes restructuring Chinese company to expand semiconductor foray

Contract iPhone manufacturer Foxconn has been delving deeper into semiconductors and electric vehicles.   © Reuters

TAIPEI -- Foxconn plans to invest 9.8 billion yuan ($1.46 billion) in embattled Chinese chipmaker Tsinghua Unigroup as the world's top contract electronics maker further advances its push into semiconductors.

Taiwan-based Foxconn, formally known as Hon Hai Precision Industry, is expected to buy into state-backed Unigroup's new holding company through Shanghai-listed subsidiary Foxconn Industrial Internet, which produces servers and personal computers. The plan was reported by Taiwanese media Wednesday.

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