“Foxconn Technology Group, which manufactures Apple Inc.’s iPhone and other products, said it is in talks to expand in the U.S.,” Eva Dou and Tripp Mickle report for The Wall Street Journal. “The statement comes amid President-elect Donald Trump’s push for a return of manufacturing to the U.S.”
“Foxconn said the size and scope of its potential U.S. investment hasn’t been determined,” Dou and Mickle report. “‘We can confirm that we are in preliminary discussions regarding a potential investment that would represent an expansion of our current U.S. operations,’ the Taiwanese electronics manufacturer formally known as Hon Hai Precision Industry Co. said Wednesday.”
“Foxconn’s core business is electronics assembly, and Apple its biggest customer,” Dou and Mickle report. “Foxconn’s statement came a day after Japan’s SoftBank Group Corp. Chief Executive Masayoshi Son met with Mr. Trump in New York and pledged to invest $50 billion in the U.S.That money will be coming from a $100 billion investment fund that Mr. Son began setting up earlier this year with Saudi Arabia’s sovereign-wealth fund and other potential partners. Foxconn’s logo appeared beside SoftBank’s on the piece of paper that Mr. Son held while speaking to reporters after his meeting with Mr. Trump. It wasn’t clear how Foxconn might be involved in Mr. Son’s plans.”
Read more in the full article here.
MacDailyNews Take: So, we do know one thing at least: Two of Apple’s most important partners – SoftBank (which owns ARM Holdings) and Apple product assembler Foxconn are in on this deal to expand in the U.S.
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