Foxconn International Holdings (FIH) has appointed Cheng Tien Chong, currently executive vice president of the Foxconn Group, to serve as its new CEO, effective January 1, 2012, according to a company press release.

Incumbent chairman and CEO Samuel Chin will relinquish his position as CEO, but will continue to serve as chairman and involve in the formulation and review of the company's business plans and strategies, the company said.

Cheng, who joined the Foxconn Group in 2007 after serving as president of Texas Instruments (TI) Asia from 1997-2007, knows the handset industry well and will be able to have FIH devote efforts to R&D, according to industry observers.