According to sources familiar with the matter, Foxconn Technology (OTCPK:FXCOF) is engaged in discussions with Taiwan Semiconductor Manufacturing Company (NYSE:TSM) and Japan’s TMH Group to explore a potential joint venture and technology collaboration aimed at establishing semiconductor fabrication units in India. The Economic Times reported this development shortly after Foxconn, the renowned iPhone assembler officially known as Hon Hai Precision (OTCPK:HNHAF) (OTCPK:HNHPF), and Vedanta Group terminated their chip joint venture.
The discussions between Foxconn and the two companies have been ongoing for a considerable period, and an announcement disclosing the collaboration’s specifics is expected in the near future, as per the report.
On Monday, Taiwan Semiconductor disclosed its revenue figures for June 2023, revealing an 11.4% decline in revenue compared to the previous month, amounting to NT$156.4 billion or $5.06 billion, with a year-over-year decrease of 11%. Taiwan Semiconductor (TSM) is scheduled to conduct its second-quarter earnings call on July 20.
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Author Faith Yakubu 
