TAIPEI – Foxconn plans to build a joint IC packaging and testing plant in Qingdao, Shandong Province, China, as part of the company’s efforts to enter the semiconductor industry.

Chairman Young Liu reportedly signed an agreement with the local government to cooperate on technology development.

The company plans to develop 5G applications, the Industrial Internet of Things and artificial intelligence. Foxconn has also targeted electric vehicles, digital healthcare and robotics.

Operations at the site are scheduled to start in 2021. No financial terms were disclosed.

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