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Foxconn stands by China chip deal as cross-strait tensions rise

Public has 'misunderstood' nature of Tsinghua Unigroup, says Taiwan tech titan

Taiwanese electronics assembler Foxconn's $800 million investment to take a 10% stake in China's Tsinghua Unigroup is under review by regulators on the island.    © Reuters

TAIPEI -- Key iPhone assembler Foxconn on Wednesday defended its investment in Beijing-backed Tsinghua Unigroup, saying the public has "misunderstood" the nature of the Chinese tech conglomerate.

Foxconn, the world's biggest contract electronics manufacturer, invested nearly $800 million to take a 10% stake in Tsinghua Unigroup, but did not seek prior approval for the deal as required by Taiwanese regulators.

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