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Foxconn and SK get into bed with each other

by on03 September 2015


Close co-operation

Foxconn is expanding its cooperation with Korea's SK Group to cover semiconductors, telecom services and energy.

The pair have agreements to work together on IT services and ODM handset production.

The agreement for the expansion of cooperation between the two companies was reached at a recent meeting between Foxconn chairman Terry Gou and SK Group chairman Chey Tae-Won held in Taipei.

Last year Foxconn spent US$344.88 million investing in in SK C&C, a unit under the SK Group. The two companies also formed FSK Holdings to offer IT services in China.

SK Telecom announced that it would begin marketing a new smartphone, the Luna, in the Korea market on September 4. FIH Mobile, a subsidiary of Foxconn, manufactures the Luna.

Since SK Telecom is the largest mobile operator in Korea with 16 million 4G subscribers, it may increase its purchase of smartphones from Foxconn under the expanded cooperation agreement, said the sources.

Foxconn and the SK Group are also going to try a joint strategy to hit the India market with financial, electronics parts, telecom and networking services and products.

Last modified on 03 September 2015
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