Taiwan's Foxconn forms JV with Yageo to make small integrated circuit products

FILE PHOTO: A sign of Foxconn is seen at a glass door inside its office building in Taipei, Taiwan November 12, 2020. REUTERS/Ann Wang

TAIPEI (Reuters) – Taiwan’s Foxconn on Wednesday announced a joint venture with Yageo Corp to make small integrated circuit (IC) products in a move into the semiconductor industry, which is hit by a shortage that has rattled the global automotive and electronics sectors.

The two companies will set up a new firm in Taiwan called XSemi Corporation to “extend the businesses into the semiconductor industry, including product development and sales,” Foxconn said in a statement.

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