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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

Foxconn’s Next Move is to China

The founder of Foxconn Tech, Terry Gou, says that the company has plans to build a television flat-panel factory for $8.8 billion (61 billion yuan) in Guangzhou, China.

Even though Trump wants to enforce a 45% tax on all things made in China as an effort to encourage more U.S. manufacturing, Gou went as far as to call the country of China an “investment treasure land.” Although he didn’t mention Trump or the tax. Gou even applauded the profitable atmosphere in Taiwan where Apple produces iPhones.

Foxconn had said that it was contemplating the increase of U.S. jobs but with this new announcement it would seem that the company has changed its focus to China instead.

The new factory is estimated to be making liquid-crystal displays using Sharp, a Japanese electronics corporation owned by Foxconn, technology. The new factory should be up for production around 2019. It will be producing 10.5 generation 8k displays along with smart TVs.

Sakai Display Products is the corporation that plans to make $8.8 billion investment to start the building of the flat-panel factory. Gou personally owns most of Saikai while Sharp holds a minority stake.


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