iPhone Manufacturer Foxconn Plans to Invest $10 Billion on U.S. Plant

Workers assemble electronic components at a Foxconn factory
AFP

(Reuters) — Foxconn, the world’s largest contract electronics maker and a major Apple Inc supplier, plans to invest more than $10 billion in a display-making factory in the United States and will decide on the location of the plant next month.

The Taiwan-based firm has been eyeing U.S. investments for some time and its CEO, Terry Gou, had previously said the company hoped to spend over $7 billion to set up a display-making plant in the country – which has no panel-making industry but is the No.2 market for televisions.

Foxconn, formally known as Hon Hai Precision Industry Co, is currently considering Wisconsin, Ohio, Michigan, Pennsylvania and North Carolina as possible locations, Gou told reporters after the company’s annual shareholders meeting on Thursday.

“In July we will make a conclusion,” Gou said, adding the company would invest the money over five years.

Read the rest of the story at Reuters.

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