Foxconn Weighs $7 Billion U.S. Display Plant

Foxconn is considering building a U.S. display-making facility for upwards of $7 billion, a major investment for Apple’s main manufacturer that may create tens of thousands of American jobs during President Donald Trump’s first year in office, according to Bloomberg.

The company is considering a joint investment with Sharp, the Japanese display supplier it bought last year, but details have yet to be hammered out, Reuters cited Chairman Terry Gou as telling reporters in Taipei on the sidelines of a company event. Foxconn confirmed the report.

An investment by Foxconn, whose main listed unit is Hon Hai, would mark a victory for Trump, who’s repeatedly blasted China for stealing American jobs and devastating U.S. manufacturing. But Foxconn is one of the single largest private employers in China and the government there has conveyed its concern over the possibility that it will shift investment away from the country.

China is pivotal to Foxconn’s massive electronics assembly operation, which cranks out more iPhones and iPads than any other in the world. Foxconn has said it’s in preliminary discussions to broaden its investment in the U.S., without elaborating. A potential strategic shift by Foxconn unnerves Chinese authorities because the company employs roughly a million workers across the country.

For now, Foxconn’s prospective U.S. plans remain preliminary. The envisioned facility could cost more than $7 billion and may create 30,000 to 50,000 jobs, according to Gou. It would also bring manufacturing closer to the largest market for iPhones and iPads, a potential boon for Apple, which yields about half Hon Hai’s revenue. The plant could be a joint investment with Apple, the Nikkei Asian Review reported. Apple didn’t respond to a request for comment.