Apple supplier Foxconn planning $10B US investment, eyeing six states for display plant

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Apple's main assembly partner, Foxconn, is reportedly planning to invest $10 billion or more across several U.S. states, although the company is still deciding on which ones -- including where to put a $7 billion display plant.




Investments are being considered in Ohio, Pennsylvania, Michigan, Illinois, Wisconsin, Indiana, and/or Texas, Bloomberg quoted Foxconn chairman Terry Gou as saying at a Thursday shareholders meeting. The display plant could go up in one of six states, he noted, without mentioning the candidates.

The chairman likewise didn't offer a timeframe, except that a decision on where to build the display facility should come by July. He did comment that he's been in talks with the White House and multiple state governors, one of whom even called shortly before the shareholders meeting was about to start.

Gou suggested that Foxconn could help create "tens of thousands" of jobs in the U.S., even as the company is increasing automation in China to reduce labor expenses.

Last week a report suggested that Foxconn is focusing on Wisconsin as a possible factory location. Visiting Milwaukee, in fact, U.S. President Donald Trump said that government officials were "negotiating with a major, major incredible manufacturer of phones and computers and televisions," and that he thought "they're going to give the governor a very happy surprise."

On the separate topic of buying Toshiba's memory business, Gou claimed that despite that company choosing another bidder, Foxconn hasn't been shut out.

"The Toshiba deal isn't over," he said. "It is similar to Sharp's story. I believe we still have a big chance."

Foxconn infamously outbid other parties for Sharp, only to slash its offer once a deal seemed secure. In the case of Toshiba's memory unit, a Foxconn consortium including Apple and Dell has reportedly floated spending as much as $27 billion -- much less than the $17.9 billion being tendered by the preferred bidders, a group led by Bain Capital and Japanese government investors.

Comments

  • Reply 1 of 7
    linkagelinkage Posts: 1member
    Why you always use this picture? Can't you just use a better one?
  • Reply 2 of 7
    NotsofastNotsofast Posts: 349member
    I think you mean the rumored bid, $27 billion, by Apple is much "more," not "less" than the $17.9 billion bid by Bain Capital.
    mwhitekaitain4stevenozbshankcecil helton
  • Reply 3 of 7
    fallenjtfallenjt Posts: 3,976member

    Gou suggested that Foxconn could help create "tens of thousands" of jobs in the U.S., even as the company is increasing automation in China to reduce labor expenses.

    Wow, these jobs pay $8/hr. That's why they try to build most facilities in Red states where residents don't have higher education.
    stevenozbshank
  • Reply 4 of 7
    davendaven Posts: 505member
    fallenjt said:

    Gou suggested that Foxconn could help create "tens of thousands" of jobs in the U.S., even as the company is increasing automation in China to reduce labor expenses.

    Wow, these jobs pay $8/hr. That's why they try to build most facilities in Red states where residents don't have higher education.
    Wississippi, formerly known as Wisconsin, is in the running as Republican control of the state has decimated the state's education system.
    bshank
  • Reply 5 of 7
    toddzrxtoddzrx Posts: 194member
    fallenjt said:

    Gou suggested that Foxconn could help create "tens of thousands" of jobs in the U.S., even as the company is increasing automation in China to reduce labor expenses.

    Wow, these jobs pay $8/hr. That's why they try to build most facilities in Red states where residents don't have higher education.
    Not surprised at all that you someone would make this political.  You're just lame for doing that.  How do you know what wages will be?  It seems you should be happy someone is creating jobs in our country instead of disparaging them, whether it be Trump, Gou, or anyone else.  And way to show off your elitism by claiming that Republican states don't have "higher education".  I assume you're not that dumb, so why so snarky?
  • Reply 6 of 7
    toddzrxtoddzrx Posts: 194member
    daven said:
    Wississippi, formerly known as Wisconsin, is in the running as Republican control of the state has decimated the state's education system.
    Proof?

    Shall we discuss how well Dems have run Chicago, Detroit, and IL, where years of control by that party has destroyed those cities/states?
  • Reply 7 of 7
    davendaven Posts: 505member
    toddzrx said:
    daven said:
    Wississippi, formerly known as Wisconsin, is in the running as Republican control of the state has decimated the state's education system.
    Proof?

    Shall we discuss how well Dems have run Chicago, Detroit, and IL, where years of control by that party has destroyed those cities/states?
    Sure. Unlike Trump supporters who thrive on baseless rumors like Pizzagate, etc., here are a couple of links for you. The first one is a nonpartisan study about teachers in the Milwaukee area (including conservative suburbs) and Wisconsin. The second link is a short article from a Kansas station about how teachers are leaving that Republican stronghold in droves. Enjoy!

    http://www.publicpolicyforum.org/sites/default/files/TeacherPipelineReport.pdf

    http://ksn.com/2015/07/12/more-kansas-teachers-leaving-state-retiring/
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