Recently, some media reported that Foxconn and its subsidiary Sharp will jointly invest $9 billion in semiconductor projects in Zhuhai, China, and said the project is listed as one of the top technology projects, so most of the expenses will be funded by the local government. The report also pointed out that Foxconn is negotiating with the local government to invest in semiconductor matters, and has now entered the final stage.

Today, Sharp said that it is not true that the recent media reports that Sharp and Foxconn will spend $9 billion to build a chip factory in Zhuhai, China and enter the final stage of negotiations with the local government, Sharp has never released relevant news.

In response to Sharp’s statement, some insiders said that Sharp is not involved in the negotiations, and Foxconn plans to start the construction of the chip factory as early as 2020.

In fact, as the world’s largest electronics manufacturing service provider, Foxconn has long been interested in the chip business. Foxconn chairman Terry Gou has repeatedly expressed his attitude towards the chip field, and has publicly stated that Foxconn will definitely manufacture chips.

As early as May of this year, Foxconn said it would integrate Sharp’s semiconductor business and to set up a new semiconductor subsidiary, and have plans to build two 12-inch wafer fabs.

According to industry sources, the fab will begin construction in 2020, which will manufacture chips for ultra-high-definition 8K TVs, camera image sensors, and various sensor chips for industrial applications and connected devices. As technology matures, more advanced chips will be built for robots and self-driving cars. In addition, the fab will not only manufacture chips for Foxconn, but also open OEM services for other manufacturers.

As of now, Foxconn has not yet officially responded to these news.