Sharp move

23 January 2017 By Robyn Mak Follow @mak_robyn

Building a huge American factory would fit neatly with President Trump’s push to create domestic jobs. That could help the Taiwanese iPhone maker navigate trade disputes. Grabbing a share of the U.S. television market could also help revive recently acquired subsidiary Sharp.

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Foxconn, the world's largest contract electronics maker, is considering setting up a display-making plant in the United States in an investment that would exceed $7 billion, Chairman and Chief Executive Terry Gou said on Jan. 22.

Foxconn's proposal to build a display plant, which would be planned with its Sharp unit, depends on many factors, such as investment conditions, that would have to be negotiated at the U.S. state and federal levels, Gou told reporters on the sidelines of a company event.

In December, Masayoshi Son, the head of Japan's SoftBank, inadvertently disclosed information showing Foxconn's logo and an unspecified $7 billion investment. Son had pledged $50 billion of investment in the United States after meeting with then-President-elect Donald Trump in New York.

Foxconn, also known as Hon Hai, acquired Japan's Sharp last year.

Shares of Japanese-listed Sharp were up 4 percent to 309 yen by late morning in Tokyo on Jan. 23.

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Sharp move

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