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Foxconn to set up $7 bn OLED display plant in US to supply Apple

Foxconn to set up $7 bn OLED display plant in US to supply Apple

By BizLED Bureau

Jan 25, 2017: Sharp will soon scale up its OLED production—in quality and quantity—as required by its parent company Foxconn’s largest customer Apple. Foxconn aims to build a new display OLED plant in the US, stated Terry Gou, CEO, Foxconn, at a press conference in Taiwan.

The $7 billion OLED screen plant will create about 30,000-50,000 jobs in the US. A molding facility will also come up in in Pennsylvania, USA.

In 2016, Taiwan-based Foxconn’s business partner Masayoshi Son, head of Japan’s SoftBank, met Donald Trump and promised another investment of $50 billion in the US.

Also Read: Foxconn, Sharp to build OLED plant in China

President Trump wants to lure companies with potential tax incentives and other incentives so that they bring some manufacturing into the US.

Hence, Foxconn’s investment of $7 billion for OLED screen facility would go down well with Trump’s promise to bring manufacturing the US.

Earlier, we had reported that Foxconn, and its Japan-based subsidiary Sharp are also considering building an OLED facility at Zhengzhou, Henan Province, China. Foxconn will partner with Sharp to invest US$855 million (100 billion Japanese yen) in the OLED plant project. In September 2016, Sharp announced that it will invest 57.4 billion yen to install production facilities for OLED screens and components for the displays. It OLED production will start in April 2018.

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