Foxconn to Start Work on $9 Billion Chinese TV Display Plant
- Completed by 2019, it will crank out 90,000 panels monthly
- The factory represents a gamble by Terry Gou on giant screens
Foxconn employees work along a production line in in Shenzhen, China.
Photographer: Thomas Lee/BloombergFoxconn Technology Group will begin construction this month on a $9 billion display plant in southern China, as billionaire founder Terry Gou makes a big bet on demand for giant-sized TV screens in healthcare and homes.
Gou and the Taiwanese company are looking to capitalize on the technology and branding acquired with the purchase of Sharp Corp. last year. Foxconn, whose main listed unit is Hon Hai Precision Industry Co., is investing 61 billion yuan ($8.9 billion) in the factory in Guangzhou and plans to complete it by 2019. 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. Those will be aimed at the healthcare, education and smart home applications, Foxconn said in a statement on Wednesday.