The contract manufacturer of Apple Products, has collaborated with Taiwan-based Yageo Group
Hon Hai Technology Group (Foxconn) and Yagei Group have announced to form a strategic alliance to combine two groups’ resources to integrate their R&D capabilities and technological innovations in key electronic components. This strategic cooperation will officially start in the third quarter of this year.
“Yageo is an industry leader in many technological fields. The solid cooperation with Hon Hai will be able to demonstrate the wisdom and advantages of Taiwan’s manufacturing industry. Through this strategic alliance, we will focus more on the development of new customers and products with joint resources to meet global customers’ needs in the supply chain support and functional design development and come up with more value-added solutions,” mentioned Young Liu, Chairman of Hon Hai.
Yageo has years of experience in EV components along with know-how in the 5G technology and semiconductor packaging.
New business scope of Foxconn
Yageo’s strategic partnership will Foxconn, as per the companies, will differentiate from traditional supply chain operation. Not only in the development of key electronic components and the sharing of R&D resources, but also in the cooperation with global end customers, Yageo’s diversified high-end products can be fully integrated and matched to the new business scope of Foxconn.
“With the cooperation of Hon Hai and Yageo, it is not just “3+3” but “3×3” achievement created by these two groups. For many years, Yageo has cultivated deeply in key electronic components for electric vehicles, smart healthcare, industrial specifications, 5G technology, and special semiconductor packaging and testing and has shown many concrete results in related areas. Through the cooperation with Hon Hai Group, we are able to enlarge mutual technological benefits and resource sharing to maximize the value of both groups and see multiple growths in the future,” said Pierre Chen, Chairman of Yageo Group.
Yageo Group, as per the official statement, certainly will become the best strategic partner for Hon Hai Group in the development of electric vehicles, digital healthcare, and robotics.
It forward, “Moving forward, the cooperation between Hon Hai and Yageo is going to make significant progress in digital healthcare. Both groups will aslo build solid partnership in the thriving development of the electric vehicle industry. Yageo Group will be the best strategic partner and supply chain that matches Hon Hai’s global allocations. The combination of global production and operation capabilities and technical capabilities of high-end key electronic components will provide win-win results and create even higher value for each other.”