Why Foxconn Coming To United States
Lately it is learned Taiwanese mobile maker Foxconn will be investing for display plant in United States with its own funding of $7 billion though $50 billion has been claimeed by Softbank.
The company is currently known for being the largest contract electronics in the world and mostly assembles Apple’s iphones and iPads. It has also produced products of BlackBerry, Nokia and Nintendo.
During the inaugural speech after taking oath as the President of United States, Donald Trump pledged to put “America First.” This may have prompted Foxconn chairman and chief executive Terry Gou to plan building a display plant in the US to have less effect on the rise of protectionism in the country.
If Foxconn fails to step into American soil, it may lost some of the major contracts including that of Apple as Trump has warned to be reducing outsourcing of jobs in foreign countries.
Last year Foxconn acquired Sharp and it is learned the new plant will be at Sharp unit.
One another fact for Foxconn going to America with its plant is there is no panel-making industry there even though Unite States is the second-largest market for televisions. Once built, the factory may create about 30,000 to 50,000 jobs.
Currently Foxconn is considering Pennsylvania as it has existing cooperation and operations there. Also, the state has good source of land, water, power, infrastructure and other investment conditions.
However, Foxconn also added the company would remain active in China too.
How Foxconn will materialize the new plan is still not clearly known as in the current era the manufacturing is trending towards automation and even robotics. So, it is tough to understand the 30,000 or 50,000 jobs would be on the factory floor, or in engineering and product management.
It is also not understood what will be the impact on pricing part of the products amid state and federal rules and regulations. American-made iDevice could be more expensive.
Besides the Foxconn plan, several other companies native to America are learned to have canceled plans of moving facilities abroad following the electoral win of Donald Trump in November. Indianapolis maker of air conditioners and heating furnaces, Carrier, earlier had plans of moving about 1,000 jobs to Mexico. Similarly Ford Motor Co. too thought of scrapping a $1.6-billion assembly plant in Mexico.
February 20, 1974, as Hon Hai Precision Industry Co., Ltd. It is headquartered in New Taipei City, Taiwan.
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