From ComputerWorld: India’s big push for semiconductor manufacturing took a hit on Monday when contract manufacturer Hon Hai Precision, better known as Foxconn, said it is pulling out from a planned semiconductor joint venture with Indian firm Vedanta.
“Foxconn is working to remove the Foxconn name from what now is a fully owned entity of Vedanta,” the company said in a statement to the Taiwanese stock exchange.
Foxconn further said that both companies had worked towards building a semiconductor building facility in India for a year but had mutually decided to part ways in order to explore “more diverse development opportunities.”
“Foxconn is confident about the direction of India’s semiconductor development. We will continue to strongly support the government’s ‘Make in India’ ambitions and establish a diversity of local partnerships that meet the needs of stakeholders,” the company said.
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