It was originally a wholly-owned subsidiary of Foxconn that was set up as a strategic investment platform uninvolved in actual business operations.

On its trading debut, Fi shares rose 44% making it valuable tech company listed in mainland China at the time.

[3][4] In December 2022, the Taiwan Government fined Foxconn NT$10 million for investing in Tsinghua Unigroup without seeking regulatory approval and was in violation of the Cross-Strait Act.

As a result, Foxconn stated it would sell out its holdings in Tsinghua Unigroup,[5] In July 2023, it was reported that Fii would sign an agreement with the Government of Tamil Nadu to invest Rs 16 billion to build a campus in Kancheepuram that would create 6,000 jobs.

[7] In August 2023, according to a report, Fii would exclusively supply Apple with Vietnam-made servers for training and testing artificial intelligence services.