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Foxconn looks to build $7B LCD plant in US

Foxconn Technology Group, formally known as Hon Hai Precision Industry Co. Ltd., is considering an investment of more than $7 billion in the U.S. to build a plant for liquid crystal displays, Reuters reported Jan. 22, citing company chairman and CEO Terry Gou.

This comes shortly after the Taiwanese manufacturer of Apple Inc.'s iPhone was reported to be exploring the possibility of building a U.S. factory for LCD panels.

Gou said the facility would be planned with Foxconn subsidiary Sharp Corp., and that Pennsylvania would take priority as a possible location, as Foxconn has existing operations in the state. Other parts of the plan would call for negotiations with U.S. officials at state and federal levels, according to the report.

The proposed U.S. investment follows Foxconn's plan to build an $8.8 billion LCD factory in Guangzhou, China.