- Foxconn was preparing a joint venture with Vedanta and STMicroelectronics
- Hon Hai should have contributed around $17.7 billion
- The goal of this company was to manufacture processors, which Apple also does
According to new information shared by the news agencyReuters, Foxconn has just withdrawn from a joint venture where its stake should have been worth no less than approximately $17.7 billion. The project, which should have seen the firm join forces with Vedanta to design processors, would have been canceled by mutual agreement. The reason given lies behind difficulties in signing another major subcontractor for this company, namely STMicroelectronics.
Vedanta is an Indian conglomerate headed by billionaire Anil Agarwal, criticized in particular during violence against demonstrators trying to prevent the installation of a new copper mine. Events which are of course not without echoing recentprotestationscoming directly from employees of Hon Hai, another name for Foxconn inChine. The fault lies in working conditions considered deplorable by many international observers.
Apple is already well equipped
For its part, Apple is also working on its own processors. Since 2020, the company has notably designed Mac chips, previously manufactured by the American founder Intel. Recently, we were also able to see the arrival of a motherboard dedicated to virtual reality: the R1. This is equipped with a brand new type of very low latency RAM, according to rumors coming directly from South Korea.
At Apple, it is not Foxconn which is responsible for the final stage of chip manufacturing, but TSMC. The Taiwanese supplier had already been signed well in advance for orders for iPhone processors andiPad, and is positioned today as nothing but the tenth capitalization on the planet, just behind Warren Buffet's Berkshire Hathaway investment fund but ahead of Visa bank cards.
Foxconn, a subcontractor increasingly criticized
Coming back to Foxconn, we know that it is still the main assembler of iPhones today. Its factories receive the parts such as the screen, the printed circuit, the photo sensors or even the battery then integrate everything under the chassis according to precise processes, supervised by regular checks carried out by Apple teams. All in the greatest secrecy, or almost. It is indeed not rare, as today, to see specialized media close to local sources being indiscreet. But beware of the informant who gets caught: he risks finding himself facing justice.
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By : Keleops AG
