South Korea-based Hynix Semiconductor said it will create a back-end chip joint venture in China with state-run Wuxi Industrial Development Group, the Wall Street Journal reported. Hynix also said it will sell the new company US$300 million in equipment, which it will use for operations and capital expenditures. The JV will help the firm concentrate on manufacturing chips and research and development while testing and assembly will be delegated to the JV partner. Hynix said outsourcing of testing and assembly will help it save US$1.6 billion over the next five years. The firm is the world’s second-largest computer memory chip maker after Samsung.
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