HON HAI Precision (Foxconn) withdrew from a joint venture with Indian conglomerate Vedanta Group to build semiconductor and display production plants in the country, in a blow to the state's plans to bolster the segment.
In a brief statement, Foxconn said it had worked with Vedanta for more than a year to bring "a great semiconductor idea to reality," but it had determined not to move forward. It has also removed its name from an entity that is now fully owned by Vedanta.
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