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iPhone Manufacturer Foxconn Mulling $7 Billion U.S. Display Factory Investment With Apple
Taiwanese iPhone manufacturer Foxconn is considering a $7 billion joint investment with Apple to establish a display manufacturing facility in the United States, it was reported on Sunday.
According to the Nikkei Asian Review, journalists who attended Foxconn's annual end-of-year party quoted chairman Terry Gou as saying that Apple is seeking to invest with the firm in a U.S. facility, which will eventually create 30,000 to 50,000 jobs.
The increase in demand for larger display panels makes local production a better solution than shipping from China to the U.S. market, Gou told reporters. In addition to the proposed display facility, Gou said Foxconn plans a new molding facility in the U.S., with the state of Pennsylvania earmarked as a possible location following investment discussions with local officials.
Gou also said that Smart Technologies, a Foxconn-controlled interactive display startup based in Canada, may move south of the border, after U.S. President Donald Trump signaled a possible renegotiation of the North American Free Trade Agreement.
According to reports, Gou said that the rise of U.S. protectionism was an inevitable consequence of the Trump administration, but questioned whether American consumers would be willing to pay significantly more for products as a result.
Rising tension between the U.S. and China could benefit Gou, say people familiar with the tycoon's style. "Foxconn is known to leverage different provinces and countries against each other for better terms," an industry source said, suggesting Gou could pit both countries against each other as both sides courted new investments from the company.
Earlier this week it was reported that Foxconn was planning a new facility next to Apple's forthcoming research and development center in the southern Chinese city of Shenzhen. "Foxconn will not leave. Foxconn will stay in China," Gou told reporters in Guangzhou, when asked whether he plans to move existing manufacturing sites to the United States.
Note: Due to the political nature of the discussion regarding this topic, the discussion thread is located in our Politics, Religion, Social Issues forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.
According to the Nikkei Asian Review, journalists who attended Foxconn's annual end-of-year party quoted chairman Terry Gou as saying that Apple is seeking to invest with the firm in a U.S. facility, which will eventually create 30,000 to 50,000 jobs.
The increase in demand for larger display panels makes local production a better solution than shipping from China to the U.S. market, Gou told reporters. In addition to the proposed display facility, Gou said Foxconn plans a new molding facility in the U.S., with the state of Pennsylvania earmarked as a possible location following investment discussions with local officials.
Gou also said that Smart Technologies, a Foxconn-controlled interactive display startup based in Canada, may move south of the border, after U.S. President Donald Trump signaled a possible renegotiation of the North American Free Trade Agreement.
According to reports, Gou said that the rise of U.S. protectionism was an inevitable consequence of the Trump administration, but questioned whether American consumers would be willing to pay significantly more for products as a result.
"In the future they may be paying some $500 more for U.S. products, but those do not necessarily work better than a $300 phone," he said, after urging U.S. authorities to provide concessions on land and electricity to facilitate Foxconn's manufacturing operations.Foxconn's facility in Zhengzhou, China, produces over 100 million iPhones every year. Taking into account production from Taiwan and Hong Kong, China was responsible for more than 19 percent of Apple's global revenue in the fourth quarter of 2016.
"Yes, we will continue to add to our investments in China," Gou told reporters. "China is the world's biggest market, and why should we turn down the biggest market?"
Rising tension between the U.S. and China could benefit Gou, say people familiar with the tycoon's style. "Foxconn is known to leverage different provinces and countries against each other for better terms," an industry source said, suggesting Gou could pit both countries against each other as both sides courted new investments from the company.
Earlier this week it was reported that Foxconn was planning a new facility next to Apple's forthcoming research and development center in the southern Chinese city of Shenzhen. "Foxconn will not leave. Foxconn will stay in China," Gou told reporters in Guangzhou, when asked whether he plans to move existing manufacturing sites to the United States.
Note: Due to the political nature of the discussion regarding this topic, the discussion thread is located in our Politics, Religion, Social Issues forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.
Tag: Foxconn
[ 180 comments ]
Top Rated Comments
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27 months ago
That's pretty much why I don't want it to happen.
So, you're saying that just to prevent Trump from claiming victory you would miss the opportunity to more jobs and $7B in direct investments?
Please tell me you didn't vote.
27 months ago
Separately, this has zero to do with Trump, but watch stumpy fingers try to take all credit if it happens, as he uses his hands to hyponitise the masses.
How exactly are you sure this has zero to do with Trump? I don't recall any rumors of US based iPhone component production prior to this election cycle. The article even infers it is related to Trump with the bit on US protectionism.
It's as if people are actually afraid Trump may do a few good things for the US.
27 months ago
How someone can view this as a bad thing regardless of where you fall on the political spectrum is just the prime example of something that deserves a facepalm.
27 months ago
They should put this in coal country and train the people there on 21st century jobs rather than 19th century ones. Win/win.
27 months ago
That's pretty much why I don't want it to happen.
So don't invest in the US and help create jobs here because OMG trump much get credit? Wow
27 months ago
Ahem:
I was just about to post this too. As others have said, are we really trying to spite our own country, by hoping Trump fails?
How someone can view this as a bad thing regardless of where you fall on the political spectrum is just the prime example of something that deserves a facepalm.
Sadly, some people would rather see our President fail, instead of wanting what's best for the country. I don't care who our President is; Trump, Clinton, Sanders, it could have been any of them. I do care about my country. And would want whatever is best for it. This looks like a positive in my mind. Long term, who knows, but right now, it looks good, and we certainly can use some positives right now.
27 months ago
Don't do it... Apple is on the decline, you'll have a hard time recouping your investment
MacRumors-Apple CEO speaks!Separately, this has zero to do with Trump, but watch stumpy fingers try to take all credit if it happens, as he uses his hands to hyponitise the masses.
27 months ago
I love the idea of more American jobs, but i do not like the idea of an even more expensive iPhone to make it happen. Ultimately bringing back these jobs to America will only work out if companies are willing to take less of a profit to keep prices the same, and not pass on the higher labor costs onto consumers.
27 months ago
So don't invest in the US and help create jobs here because OMG trump much get credit? Wow
I think that a second term is becoming a safe bet. At this point Pence winning in 2024 is a possibility...
27 months ago
but the candidates wouldn't want to live there because it's a pit.
People don't want to leave in these areas not because the place is a "pit" as you are suggesting. People have to leave because there are no jobs. If you think every single person in this world aspire to live in NY, LA or the peaceful Chicago, you have to re-think your concepts. Also, don't insult the place where millions of people came from.
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