Foxconn plans US display production plant

Multinational electronics giant Foxconn has announced plans to invest more than 10 billion US dollars in a display-making factory in the United States. The contract company, known for its work for Apple and Sony among other firms, will decide on the location in July.

Taiwan-based Foxconn has been eyeing US investments for some time.

CEO Terry Gou had previously said the company hoped to spend over 7 billion US dollars to set up a plant there. The US has no panel-making industry, but is the world's second largest market for television sets.

Foxconn is currently considering Wisconsin, Ohio, Michigan, Pennsylvania and North Carolina as possible locations, according to Guo. He said Foxconn will invest the money over five years, but won't employ as many people as in its China plants. With US labor far more expensive, the plant will instead rely on automation.

(CGTN)