Foxconn Invests $8 Bn In China LCD Plant

Foxconn invests $8 bn in China LCD plant

BEIJING, , (UrduPoint / Pakistan Point News - 31st Dec, 2016 ) - Taiwan tech-giant Foxconn plans to build an $8.8-billion factory in China, state media said Saturday, amid reports its billionaire boss is cooling off on future US investments.

Foxconn, a major Apple supplier, will spend the vast sum on an industrial complex in the sprawling southern city of Guangzhou.

The factory will make large-screen liquid crystal displays (LCD), the firm said at an event in the Chinese city on Friday.

It will be operational by 2019. "We have in China a government that knows how to be efficient and supports new technology," said Foxconn president Terry Gou in an interview with China's 21st Century business.