TAIPEI : Taiwan's government is considering fining tech giant Foxconn up to T$25 million over its investment in a Chinese chip conglomerate without first getting regulatory approval, two sources briefed on the matter said on Friday.
Foxconn did not seek prior approval from the Taiwan government before the investment was made and authorities believe it has violated a law governing the island's relations with China, a person familiar with the matter told Reuters. A second source said Foxconn could be given a fine of between T$50,000 and T$20 million for investing without approval, adding that regulators will scrutinise the investment and deliver a decision after they receive the company's application.
Foxconn, best known for assembling Apple Inc's iPhone, is keen to make auto chips in particular as it expands into the electric vehicle market. The company has been seeking to acquire chip plants globally as a worldwide chip shortage rattles producers of goods from cars to electronics.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Taiwan weighs fining Foxconn over China chip investment - sourceTAIPEI : Taiwan's government is considering fining tech giant Foxconn up to T$25 million ($835,600) over its investment in a Chinese chip conglomerate without first getting regulatory approval, a source briefed on the matter told Reuters on Friday. Foxconn, the world's largest contract electronics maker,
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Taiwan says Foxconn needs govt approval for any China chip firm investmentTAIPEI : Taiwan's Foxconn, the world's largest contract electronics maker, would need Taiwanese government permission if its unit were to invest in embattled Chinese chip conglomerate Tsinghua Unigroup, a government official said on Thursday.Taiwan media has reported that Foxconn's China-listed unit Foxco
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Taiwan weighs fining Foxconn over China chip investment - sourceTAIPEI : Taiwan's government is considering fining tech giant Foxconn up to T$25 million ($835,600) over its investment in a Chinese chip conglomerate without first getting regulatory approval, a source briefed on the matter told Reuters on Friday. Foxconn, the world's largest contract electronics maker,
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Taiwan says Foxconn needs govt approval for any China chip firm investmentTAIPEI : Taiwan's Foxconn, the world's largest contract electronics maker, would need Taiwanese government permission if its unit were to invest in embattled Chinese chip conglomerate Tsinghua Unigroup, a government official said on Thursday.Taiwan media has reported that Foxconn's China-listed unit Foxco
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »