Foxconn and Apple potentially collaborating on $7B U.S. based display factory

Reports indicate that Foxconn is considering a $7 billion USD investment towards building a new U.S. based factory in collaboration with Apple.

The factories will be designated to produce flat panel screens, according to reports from The Wall Street Journal, which also claims that these plans were revealed at a company event this past weekend.

Foxconn chairman Terry Gou reportedly speculated that this factory could create between 30 and 50 thousand new jobs. The company has apparently been considering such a project since 2014.

According to the Nikkei Asian Review, Gou stated that “Apple is willing to invest in the facility together because they need the [panels] as well.”

This is a feasible conclusion seeing as Foxconn is Apple’s largest manufacturing partner and runs the largest iPhone factory in the world.

In addition, Bloomberg reports that this facility will also involve the Japanese display manufacturer Sharp, which was acquired by Foxconn for $3.5 billion last year.

While the company claims that a U.S. based factory would cut down on shipping costs, Gou stressed that there would need to be financial incentives for the deal to be a viable one.

[source]The Verge[/source]