HNHAF - Foxconn and Yageo form 'small IC' JV amid global chip shortage

Foxconn, formally known as Hon Hai (HNHAF), is teaming up with Yageo Corp on a semiconductor joint venture called XSemi Corporation, which will focus on making small integrated circuit products with average selling prices lower than $2."XSemi‘s key product focus, small ICs, will become the most important element of Hon Hai’s future plan. It will not only create a steady semiconductor supply to the company’s current communication applications and future emerging technologies, but also fulfill the needs of its international customers, and ultimately enhance the company’s overall profitability," says the JV announcement.The companies say they have "started discussions with several global semiconductor companies" and plan to announce collaboration plans "in the near future."The JV comes during a global chip shortage that is hammering the auto industry and sending foundry players scurrying to add capacity.

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Foxconn and Yageo form 'small IC' JV amid global chip shortage