Foxconn Pursues Chip Ambitions With Plans for China Plant

Foxconn said it is developing plans within the partnership, which includes "other stakeholders" in the city. "We will be prepared to announce these plans when they have been finalized in the coming months," the Taiwan-based company said. The initiative comes at a time when China is spending billions of dollars to nurture its own semiconductor industry and reduce its reliance on foreign technology, an effort that has grown more urgent as its attempts to acquire U.S. chip companies have met opposition from the U.S. over national-security concerns. Foxconn, formally known as Hon Hai Precision Industry Co. 2317 -0.12%, is the world's biggest contract manufacturer, best known for assembling Apple Inc.'s iPhones. Other products it assembles--many in China--include Dell desktop computers and Nintendo game consoles.