Foxconn no longer planning $10 billion LCD plant in US

Posted on Thursday, January 31 2019 @ 10:56 CET by Thomas De Maesschalck

Reuters reports Foxconn is dialing back its plan to make LCD display panels in Mount Pleasant, Wisconsin. Plans for the $10 billion plant were revealed at a White House ceremony in 2017, but now the electronics manufacturing giant says labor costs in the US are too high for LCD manufacturing.

Instead of a manufacturing plant, Foxconn intend to create a "technology hub" in Wisconsin:

Rather than a focus on LCD manufacturing, Foxconn wants to create a “technology hub” in Wisconsin that would largely consist of research facilities along with packaging and assembly operations, Woo said. It would also produce specialized tech products for industrial, healthcare, and professional applications, he added.

“In Wisconsin we’re not building a factory. You can’t use a factory to view our Wisconsin investment,” [Foxconn CEO assistant Louis] Woo said.

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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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