Beijing - Foxconn Technology Group will begin construction this month of a $9 billion display plant in southern China, as billionaire founder Terry Gou makes a big bet on the demand for giant-sized TV screens in health care facilities and homes.
Gou and the Taiwanese company are looking to capitalise on the technology and branding acquired with the purchase of Sharp last year.
Foxconn is investing 61 billion yuan (R115.63 billion) in the factory in Guangzhou.
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It will use the largest glass substrates available, and have a monthly output capacity of 90 000 ultra-high-definition panels worth about 92 billion yuan annually. They will be aimed at the health care, education and smart-home applications, Foxconn said in a statement on Wednesday.
Gou is reshaping Foxconn, the main assembler of Apple’s iPhones, by installing robots throughout a juggernaut that spans China to Southeast Asia to shore up its manufacturing prowess and investing in emergent fields from virtual reality to artificial intelligence.
The acquisition of Sharp gave Gou a consumer electronics brand of his own and boosted Foxconn’s ability to compete in the market for smartphone and TV screens.