Taiwan’s government is going to fine Foxconn, the world’s largest electronics supplier. This is going to be imposed for taking unauthorized investments in Chinese companies. News Reuters.
Taiwan does not take kindly to China’s increased focus on the semiconductor sector. The country has accused China of stealing Taiwan’s chip technology.
Last July, Foxconn, the top supplier of Apple and iPhones, announced its stake in Chinese chipmaker Tsinghua Unigroup last July.
Last Friday, Foxconn said in a filing on the Taipei Stock Exchange that it has agreed to sell all equity shares in Tsinghua Unigroup, Foxconn’s subsidiary in China.
Taiwan’s Ministry of Finance alleged that Foxconn had not previously announced the investment. The government said that a full explanation will be sought in this regard. According to the law, fines will also be imposed.
Neither Foxconn nor Tsinghua Unigroup was immediately available for comment.
