Foxconn Eyes New Panel Factory In US With Cooperation From Sharp

Posted: Jan 23 2017, 6:34am CST | by , in News | Technology News

Foxconn eyes new panel factory in US with cooperation from Sharp

New panel line would be in response to large demand for panels in the US

Foxconn Electronics chairman Terry Guo has stated that the company is eyeing the opening of a panel factory in the US. The factory would be a tie up with Sharp and would provide advanced technology. Foxconn is considering the panel factory due to high demand for panels in the North American market and transporting these large panels is expensive.

Guo noted that Sharp is the only panel maker in the world that is operating a 10G factory and that makes Sharp the best partner for panel tech for Foxconn's project. Guo also indicated that supply chain makers and clients are interested in the new facility and would invest money in it. The initial investment for the factory and supply chain would cost about $7 billion according to Guo.

There are some potential issues with setting up the new plant, some of the critical components that the deal hinges on are land costs, water supply, and power. Foxconn says that labor costs in the US is higher, but with more automation in the facility costs for land, power, and water are more critical.

Apple is also tipped to be interested in the facility because it has need for panels as well. There is no time frame given on when the plant might go into construction. It's also unclear how far along the plan is at this time.

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<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
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