XSemi will focus on making semiconductor chips with average selling prices lower than $2.00, said Foxconn
Taiwanese chipmaking giant Foxconn announced that it has entered into a joint venture with Yageo Corp, a Taiwanese electronics manufacturing company, to expand its global presence in the semiconductor industry.
In an official statement, the chipmaker said that the two companies will set up a new firm in Taiwan called XSemi Corporation.
This development comes amid a crucial semiconductor chip shortage that has been troubling major markets like automotive, smartphones and other electronic products. Production has been forced to be halted for many companies, despite rising demand.
Talking about the same, Foxconn chairman Liu Young-way said, “The semiconductor industry is facing the biggest upheaval in the past three decades, and the industry order will face a serious restructuring.”
Foxconn, which is a major supplier for Apple, added that it, along with Yageo, is in talks with other global semiconductor companies and is exploring more collaboration opportunities, which it will announce soon.
“Now is undoubtedly the best timing to initiate strategic partnerships in various segments,” Liu added.
XSemi will focus on making semiconductor chips with average selling prices lower than $2.00, added Foxconn.
Foxconn is planning to launch several initiatives to expand its presence in the chip market to come out as a key player in the EV market, which is estimated to witness a rapid boom.
