Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens West window past, OC_Formula clue delivery! CTOnews.com, July 12, Foxconn issued a statement on the 10th that it would withdraw from the joint venture with Indian metal oil group Vedanta, which had planned to produce semiconductors in India.

▲ Touyuan Pexels according to Reuters, Vedanta chairman Anil Agarwal (Ani Agarwal) said today that the company will continue to enter the chip and display manufacturing market this year.

In a speech to shareholders, Mr Agarwal said Vedanta would start setting up semiconductors and displays this year "with government approval".

After Foxconn withdrew, Vedanta said it had found a new partner for the joint venture, but did not give any further details. Foxconn has also decided to find new partners in India to promote the program.

CTOnews.com previously reported that Volcan Investments, Vedanta's holding company, and Foxconn signed a $1.95 billion deal last year to build semiconductor and display production plants in Indian Prime Minister Narendra Modi's home state of Gujarat. However, Foxconn announced on the 10th that it would withdraw from the joint venture because the Indian government wanted to include European chipmaker St Semiconductor in the joint venture. Foxconn plans to find another partner to apply for incentives related to the Indian semiconductor production plan.

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