Manufacturing giant Hon Hai Precision Industry Co (鴻海精密) on Thursday said that the company has obtained a commitment from Tamil Nadu to fully support its investments in the southern Indian state.
Hon Hai, the flagship company of Foxconn Technology Group (富士康科技集團), said company chairman Young Liu (劉揚偉) on Thursday received a delegation from Tamil Nadu, led by S. Krishnan, additional chief secretary of the Tamil Nadu Industries Department, at the company’s headquarters in New Taipei City’s Tucheng District (土城).
In a statement, Hon Hai said the Indian delegation expressed its gratitude to the company for its investment in the Indian state, and pledged to continue its support for more investments by the firm.
Photo: AFP
Guidance Tamil Nadu, the investment promotion agency of the government of Tamil Nadu, wrote on Twitter that the delegation “elaborately discussed Foxconn’s plans for new ventures and investments, especially in emerging sectors and proffered Government’s complete support to the company in the State.”
Hon Hai, an assembler of Apple iPhones, said that the company has had a foothold in Tamil Nadu for more than a decade.
Early this month, Apple Inc announced that Hon Hai’s production sites in Tamil Nadu have been named part of the US tech giant’s supplier list for fiscal 2021, along with the iPhone assembler’s other complexes in China’s Guangdong, Henan, Hubei, Jiangsu, Shaanxi, Sichuan and Zhejiang provinces, Brazil’s Amazonas and Sao Paulo, the US states of California and Texas, and Vietnam’s Bac Giang Province.
Indian news media reported late last month that Apple, which accounts for more than 40 percent of Hon Hai’s total sales, confirmed that the assembler would start to roll out the iPhone 14s at its plant in Tamil Nadu. Hon Hai assembled earlier versions of the iPhone in the Indian state, the reports said.
The Tamil Nadu delegation arrived in Taiwan on Tuesday. They held a roundtable forum on investment on Wednesday with the Taiwan Technical Textiles Association and the Taiwan Electrical and Electronic Manufacturers’ Association.
Before leaving Taiwan tomorrow, the delegation is to visit Taiwanese electronics, electrical engineering, textile, footwear and computer numerical control device suppliers to forge closer industrial cooperation
During the Double Ten National Day celebration held by the Republic of China’s Chennai representative office on Oct. 6, Krishnan said Taiwan is one of the top five foreign investors in Tamil Nadu along with the US, Japan, South Korea and Singapore.
The Chennai office said that 25 Taiwanese companies have invested in Tamil Nadu, with their combined investments topping US$2 billion (US$62 million).
Shares in Taiwan closed at a new high yesterday, the first trading day of the new year, as contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) continued to break records amid an artificial intelligence (AI) boom, dealers said. The TAIEX closed up 386.21 points, or 1.33 percent, at 29,349.81, with turnover totaling NT$648.844 billion (US$20.65 billion). “Judging from a stronger Taiwan dollar against the US dollar, I think foreign institutional investors returned from the holidays and brought funds into the local market,” Concord Securities Co (康和證券) analyst Kerry Huang (黃志祺) said. “Foreign investors just rebuilt their positions with TSMC as their top target,
REVENUE PERFORMANCE: Cloud and network products, and electronic components saw strong increases, while smart consumer electronics and computing products fell Hon Hai Precision Industry Co (鴻海精密) yesterday posted 26.51 percent quarterly growth in revenue for last quarter to NT$2.6 trillion (US$82.44 billion), the strongest on record for the period and above expectations, but the company forecast a slight revenue dip this quarter due to seasonal factors. On an annual basis, revenue last quarter grew 22.07 percent, the company said. Analysts on average estimated about NT$2.4 trillion increase. Hon Hai, which assembles servers for Nvidia Corp and iPhones for Apple Inc, is expanding its capacity in the US, adding artificial intelligence (AI) server production in Wisconsin and Texas, where it operates established campuses. This
H200 CHIPS: A source said that Nvidia has asked the Taiwanese company to begin production of additional chips and work is expected to start in the second quarter Nvidia Corp is scrambling to meet demand for its H200 artificial intelligence (AI) chips from Chinese technology companies and has approached contract manufacturer Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) to ramp up production, sources said. Chinese technology companies have placed orders for more than 2 million H200 chips for this year, while Nvidia holds just 700,000 units in stock, two of the people said. The exact additional volume Nvidia intends to order from TSMC remains unclear, they said. A third source said that Nvidia has asked TSMC to begin production of the additional chips and work is expected to start in the second
US President Donald Trump on Friday blocked US photonics firm HieFo Corp’s US$3 million acquisition of assets in New Jersey-based aerospace and defense specialist Emcore Corp, citing national security and China-related concerns. In an order released by the White House, Trump said HieFo was “controlled by a citizen of the People’s Republic of China” and that its 2024 acquisition of Emcore’s businesses led the US president to believe that it might “take action that threatens to impair the national security of the United States.” The order did not name the person or detail Trump’s concerns. “The Transaction is hereby prohibited,”
RSS